SPECIAL INCOME FROM RETAINED ADVANCE PAYMENTS AND COMPENSATORY PAYMENTS LIKELY TO INCREASE SECOND-QUARTER EBIT BY SOME €78 MILLION
MUNICH, 8-5-2015 — /EuropaWire/ — Wacker Chemie AG and a solar-sector customer have agreed to terminate their contractual and delivery relationships. The terms of the agreement reached today include WACKER’s retention of advance payments received. The agreement also stipulates that WACKER will receive compensatory payments from this customer.
Accordingly, WACKER’s financial statements for Q2 2015 will recognize special income, which is expected to increase EBIT (earnings before interest and taxes) of WACKER POLYSILICON and of the Group by some €78 million.
For competitive reasons, WACKER is not disclosing any other details of the terminated contract.
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.
Wacker Chemie AG
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