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Wacker Chemie AG

WACKER posts sales and earnings increase for fiscal 2008

Munich (euro adhoc) -

- Sales climb 14 percent to €4.3 billion
- EBITDA up 5 percent to €1.05 billion
- Investments of €1.1 billion financed from cash flow
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
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January 28, 2009 - Wacker Chemie AG´s
preliminary 2008 figures show that sales and operating results 
(EBITDA) both surpassed prior-year levels. Although the global 
economic downturn impacted WACKER´s fourth-quarter business, the 
Munich-based chemical company increased its full-year sales by 14 
percent to EUR4.3bn (2007: EUR3.78 bn). The chief growth driver was 
stronger sales volumes. Earnings before interest, taxes, depreciation
and amortization (EBITDA) also rose once again, reaching EUR1.05bn 
(2007: EUR1.00bn) and resulting in a full-year EBITDA margin of 24.5 
percent (2007: 26.5 percent).
According to WACKER´s preliminary figures, investments amounted to 
some EUR1.1bn in 2008 (2007: EUR699.3bn). Capital expenditures 
focused on strategic growth projects, including production capacity 
increases for polysilicon, the ongoing expansion of the Zhangjiagang 
silicone production site in China, and the acquisition of full 
ownership of Air Products Polymers and Wacker Polymer Systems (two 
former joint ventures). WACKER fully financed these investments 
through cash from operating activities. After offsetting bank 
liabilities, WACKER´s balance of cash and cash equivalents was almost
EUR100m at year-end 2008. As expected, Q4 figures not only reflected 
the normal seasonal slowdown, but also the substantial impact of the 
global economic crisis. Preliminary fourth-quarter sales amounted to 
EUR1.01bn (Q4 2007: EUR920.1m), up 9 percent year on year despite 
economic headwinds. The company´s chemical divisions faced falling 
demand, especially for construction and automotive products. As for 
semiconductor wafers, Q4 saw a further drop in both sales volumes and
prices. In contrast, hyperpure polycrystalline silicon operations 
remained very stable. Currently, these trends are continuing to 
influence WACKER´s business activities. To lower production costs, 
WACKER has decided to introduce shorter working hours at its German 
sites and adopt similar measures at its locations outside Germany.
WACKER´s fourth-quarter EBITDA was EUR120m, down from EUR205.3m in Q4
2007. This drop stemmed chiefly from lower volumes at the Group´s 
chemical divisions, as well as at Siltronic, where weaker prices 
additionally weighed on profits. At WACKER POLYSILICON, 
fourth-quarter earnings remained stable and strong. Group earnings 
were additionally affected by EUR55m paid to German and foreign 
pension plans, with most of this one-off payment impacting profits.
"We managed to meet our sales and earnings targets for 2008 despite 
the tough fourth quarter," said CEO Rudolf Staudigl. "Our 
balance-sheet figures are completely sound. So, we see ourselves well
equipped to meet the challenges of the current fiscal year."
The Q4 and fiscal 2008 figures and forecasts in this press release 
are preliminary. Wacker Chemie AG will publish its Q4 Report and 2008
Annual Report on March 18, 2009.
This press release contains forward-looking statements based on 
assumptions and estimates of WACKER´s Executive Board. Although we 
assume the expectations in these forward-looking statements are 
realistic, we cannot guarantee they will prove to be correct. The 
assumptions may harbor risks and uncertainties that may cause the 
actual figures to differ considerably from the forward-looking 
statements. Factors that may cause such discrepancies include, among 
other things, changes in the economic and business environment, 
variations in exchange and interest rates, the introduction of 
competing products, lack of acceptance for new products or services, 
and changes in corporate strategy. WACKER does not plan to update the
forward-looking statements, nor does it assume the obligation to do 
so.
end of announcement                               euro adhoc

Further inquiry note:

Christof Bachmair
Media Relations & Information
Tel.: +49 (0)89 6279 1830
E-Mail: christof.bachmair@wacker.com

Branche: Chemicals
ISIN: DE000WCH8881
WKN: WCH888
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard

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