In Q3 2017, German Wacker Chemie AG posted sales of €1,311.6 million ($1,540 million) in the reporting quarter (Q3 2016: €1,150.8 million). That was 14 percent more than a year ago and 8 percent higher than in Q2 2017 (€1,218.3 million). The main reason for the increase versus Q3 2016 was the fact that overall volumes for silicones, polymer products and polysilicon were markedly higher year over year. Wacker generated EBITDA of €298.0 million in Q3 2017. That was 13 percent higher than last year (€264.0 million) and 18 percent more than a quarter ago (€253.4 million). Net income for the reporting quarter amounted to €104.2 million (Q3 2016: €67.5 million) and earnings per share came in at €2.04 (Q3 2016: €1.29).

Wacker’s business unit Polysilicon achieved total sales of €341.7 million in the reporting quarter. That was 35 percent more than a year ago (€253.0 million) and 39 percent higher versus the preceding quarter (€246.7 million). The strong rise was mainly due to substantial year-over-year and quarter-over-quarter volume growth, which was supported by sales from inventory, says the company. EBITDA came in at €85.0 million, compared with €82.3 million last year. That was an increase of 3 percent. Relative to a quarter earlier (€71.3 million), EBITDA grew by 19 percent.

The company has raised its earnings forecast for full-year 2017. EBITDA is now expected to be at €1 billion, exceeding last year’s adjusted figure of €955.5 million. Previously, Wacker anticipated that EBITDA would be between €900 million and €935 million. Group sales are expected, as before, to rise by a mid-single-digit percentage compared with last year’s €4,634.2 million.