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Wacker reports huge drop in net income and 10% lower sales, confirms 2013 outlook

1:57 AM MDT | April 30, 2013 | Natasha Alperowicz

Wacker Chemie today reported a huge drop in net income and a 10% slide in sales in the first quarter of this year. Net income was down 87.8%, to €5.1 million ($6.7 million), while sales dropped to €1.08 billion compared with €1.19 billion in the year-earlier quarter. Ebitda was 23% down, at €164.5 million, and Ebitda margin reached 15.3% compared with 17.9% in the first quarter of 2012.   The company says that after last year’s weak fourth quarter, it is experiencing higher customer demand and higher volumes in the first quarter of...

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