Wacker Chemie AG
Wacker Chemie AG: WACKER Intends to Take an Impairment on Fixed Assets
Wacker Chemie AG / Key word(s): Profit Warning/Change in Forecast Disclosure of Insider Information as per Article 17 of MAR Wacker Chemie AG / Impairment WACKER Intends to Take an Impairment on Fixed Assets Munich, December 5, 2019, 04.30 p.m. CET – In its financial statements for 2019, Wacker Chemie AG intends to take an impairment of around €750 million on the carrying amount of its production facilities for hyperpure polysilicon. The write-down stems from the continued absence of a recovery in solar-grade polysilicon prices due to the high overcapacity created by Chinese manufacturers. The exact amount to be written down will become clear during the completion of the financial statements. The impairment will reduce not only the value of property, plant and equipment in the consolidated statement of financial position, but also Group EBIT, WACKER POLYSILICON’s EBIT, and the Group’s net result for the year. Cash flow, on the other hand, will be unaffected by the write-down. For 2019, WACKER now expects a net result of around €-750 million (previous guidance: slightly positive net income). As previously, today’s guidance excludes special income of €112.5 million in insurance compensation, which WACKER booked in Q3 2019. Issuer and Contact Wacker Chemie AG Additional Information ISIN: DE000WCH8881 Disclaimer This document includes supplemental financial measures (not clearly defined in the applicable financial reporting framework) that are or may be alternative performance measures (APM). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of WACKER’s net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently. Explanations of financial measures used can be found in the Annual Report 2018 of Wacker Chemie AG which is available for download under www.wacker.com.
05-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Wacker Chemie AG |
Hanns-Seidel-Platz 4 | |
81737 München | |
Germany | |
Phone: | 0049-89-6279-1633 |
Fax: | 0049-89-6279-2933 |
E-mail: | investor.relations@wacker.com |
Internet: | www.wacker.com |
ISIN: | DE000WCH8881 |
WKN: | WCH888 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 929703 |
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