WACKER Q3: Sales up 9% and EBITDA nearly doubles to €217 million
- Group sales €1.47 billion in Q3 2026, up 9% versus Q3 2025 and down 3% versus Q2 2026.
- EBITDA €217 million (margin 14.8%), nearly double the prior year, driven by PACE savings, currency effects, better product mix and a ~€35m contract termination effect.
- Net income €87 million and net cash flow €476 million, supported by ~€170m from Siltronic share sales and a ~€120m one‑off liquidity effect from pension funding changes.
- 2026 guidance unchanged for sales and EBITDA (€625–750m); net financial debt target revised to about €200 million; PACE aims to save over €300m annually from 2028.
Q3 results
Wacker Chemie reported Q3 sales of €1.47 billion (+9% year‑on‑year, −3% quarter‑on‑quarter) and EBITDA of €217 million, up from €112 million a year earlier, giving a 14.8% EBITDA margin. EBIT totaled €103 million (vs. −€20 million) and net income was €87 million (vs. −€82 million); earnings per share were €1.68.
Drivers and strategy
The EBITDA improvement is mainly attributable to the PACE cost‑savings and efficiency program launched in October 2025, plus currency effects, a favourable product mix and a roughly €35 million special effect from the termination of a Polysilicon contract. WACKER’s REFOCUS strategy targets selective growth, an EBITDA margin around 15% (±2pp) and ROCE sustainably above 10%.
Regional and division performance
About 83% of sales were generated outside Germany. Regional sales: Europe €585 million, Asia €518 million, Americas €277 million. All business divisions posted higher sales: Silicones €729m (EBITDA €116m), Polymers €381m (EBITDA €75m), Biosolutions €100m (EBITDA €8m), Polysilicon €225m (EBITDA €44m).
Cash flow, capex and employees
Capex in Q3 was €71 million. Net cash flow reached €476 million, boosted by ~€170 million from further Siltronic share sales and a ~€120 million one‑off liquidity effect from changing the phased retirement funding to a bank guarantee. Group headcount declined to 15,916 as of September 30, 2026.
Outlook and risks
The company maintains its full‑year sales and EBITDA outlook (EBITDA €625–750m, upper half likely), expects mid‑single‑digit sales growth, capex around €300m and positive net cash flow notably above 2025. Net financial debt guidance was lowered to ~€200 million. The forecast remains subject to uncertainty from developments in the Middle East and US trade policy on polysilicon imports.
Source: WACKER