According to preliminary figures, the Munich-based firm achieved an EBITDA of 360 million euros ($390.67 million) for the fourth quarter, 14% less than forecast according to a Vara consensus, which saw it at 420 million euros. Wacker Silicones saw its yearly EBITDA rise by 58% year-on-year, climbing to 875 million euros, thanks to better selling prices for silicones as well as an ever-increasing share of high-margin speciality products in its portfolio, the firm said. Wacker Chemie, one of the world's biggest suppliers of solar-grade polysilicon, has benefited from strong demand and high prices for the material, the supply of which has growin tighter due to production issues and maintenance shutdowns.
(Reuters) -German chemicals company Wacker Chemie, which reported lower than forecast third-quarter earnings on Thursday, expects gas supply bottlenecks to ease and said risks of gas supply shortages for its facilities are low. The energy-intensive chemicals sector is among industries most exposed to high energy prices and potential gas rationing in Europe since Russia invaded Ukraine in February. The Munich-based group, which had included 200-250 million euros of additional costs from gas supply disruptions in an earlier outlook, said this was no longer necessary.
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