Wacker Polysilicon’s operating EBITDA margin slips to -13.3%
Record-low polysilicon prices and inventory valuation adjustments pushed the operating EBITDA margin of Wacker’s polysilicon division to minus 13.3% in the third quarter.
It was only the insurance compensation of €112.5 million for damages caused by a hydrogen explosion at Wacker’s U.S. polysilicon plant in 2017 that lifted the financial EBITDA margin of the division to 41.2%. Similarly, retained advance payments had turned a negative operating EBITDA into a positive overall EBITDA in Q2.
Leaving this special income aside, Wacker Polysilicon’s EBITDA margin has been negative for the fourth quarter in a row now: -10.2% in Q4 2018, -17.0% in Q1 2019, -7.8% in Q2 and -13.3% in Q3.
The positive aspect in the Q3 results is that polysilicon sales increased by 22% over the prior quarter to €206.4 million. Despite declining prices, this value was close to the result of €211.1 million in Q1 2019, bearing witness to rising shipments. “The demand improved considerably with much higher volumes,” confirmed Wacker’s CFO Tobias Ohler in a conference call with financial analysts.
NEW: Get Your In-depth Report – The Polysilicon Market Outlook 2027
- Benefit from 102 pages full of rich data, in-depth analyses and detailed forecasts on the polysilicon, solar and semiconductor industries
- Learn all about the latest developments of polysilicon manufacturing technologies (Siemens process, fluidized bed reactor, upgraded silicon kerf loss from wafer sawing)
- Obtain comprehensive data on production volumes and capacities of 45 solar-grade and electronic-grade polysilicon plants from 2020 through 2027
- Gain insight into decisive market trends, based on four sophisticated scenarios of supply and demand through 2027
- Get valuable guidance with cash cost data on 30 solar-grade polysilicon plants and spot price forecasts through 2027
Learn all about the polysilicon market
Comments
Add a comment