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Wacker Chemie AG

EANS-Adhoc: Wacker Chemie AG
WACKER Recognizes High Non-Recurring Charges for Q4 2009

27.01.2010 – 07:19

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
27.01.2010
Munich, January 27, 2010 - For Q4 2009, Wacker Chemie AG has 
recognized non-recurring charges of about EUR150 million that will 
significantly impact the Group´s full-year 2009 earnings, according 
to preliminary figures.
The non-recurring charges include an extraordinary addition to 
pension provisions of about EUR50 million, which reflects the higher 
average life expectancy of the Group´s pension-fund beneficiaries. On
top of this, WACKER made provisions of some EUR45 million in Q4 2009 
for phased early-retirement schemes, working-life accounts, and the 
Kempten plant closure, which has already been announced. With these 
one-time charges, WACKER´s fourth-quarter earnings before interest, 
taxes, depreciation and amortization (EBITDA) amounts to about EUR90 
million (Q4 2008: EUR118.7m). Additionally, WACKER has recognized 
impairments on fixed assets at Siltronic and WACKER SILICONES that 
impact earnings before interest and taxes (EBIT) by about EUR55 
million. As a result, WACKER has a fourth-quarter EBIT loss of about 
EUR-60 million (Q4 2008: EUR-13.6m).
For full-year 2009, non-recurring charges - including those already 
announced for exiting the solar wafer business, for provisions and 
for fixed-asset impairments - add up to a total of about EUR340 
million. This amount is fully recognized in EBIT, estimated at about 
EUR20 million on a preliminary basis (2008: EUR647.9m). One-time 
charges reduce 2009´s EBITDA by a total of some EUR160 million. As a 
result, preliminary EBITDA amounts to about EUR600 million (2008: 
EUR1.055bn). Due to these special items, WACKER expects to post 
negative net income of some EUR-80 million for the full year 2009 
(2008: EUR438.3m).
You will find further information about WACKER´s Q4 2009 performance 
and its fiscal 2009 key figures in a press release to be issued 
today.
end of announcement                               euro adhoc

Further inquiry note:

Investor Relations
Tel.: +49 (0)89 6279 1633
E-Mail: investor.relations@wacker.com

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

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