Q2 2026 Wacker Chemie AG Earnings Call Transcript
Key Points
- Group sales increased 7% year-over-year to $1.52 billion, driven by higher prices and volumes.
- EBITDA before pension accounting effect rose 53% to $175 million, driven by PACE cost savings and better operating performance.
- PACE program delivered $85 million in savings in the first half, with a $45 million contribution in Q2.
- Semiconductor-grade polysilicon volumes grew 10% in the first half, with sequential improvement expected in the second half.
- Strong balance sheet with 48% equity ratio and robust liquidity of $1.57 billion.
- Demand remains subdued in many end markets, with no broad-based recovery in construction or industrial applications.
- Polysilicon solar market remains weak, with low capacity utilization and ongoing regulatory uncertainty from US trade policies.
- Energy costs are a significant headwind, with a $90 million impact from lower CO2 compensation compared to the prior year.
- Order patterns in chemicals are volatile and short-term, with a moderation in order entry in Q2 due to Middle East conflict pull-forwards.
- Polysilicon EBITDA fell materially in Q2 due to inventory destocking and weaker solar pricing, despite higher semiconductor volumes.
Ladies and gentlemen, welcome to the Baka Kemi Conference Call Q2 2026. My name is Youssef, the chorus call operator. I would like to remind you that all participants will be in listen-only mode and that this conference is being recorded.
The presentation will be followed by a question-and-answer session. You can register for questions at any time by pressing star followed by one on your telephone. For operator assistance, please press star and then zero. The conference must now be recorded for publication or for broadcast. At this time, it's my pleasure to hand over to Jorg Kaufmann, Head of Investor Relations. Please go ahead.
Thank you, operator.
Welcome to the Orca Community AG conference call on our second quarter 2026 results. Christian Huttel, our CEO and Tobias Order, our CFO, will take you through the presentation.
The press release.
Our IAR presentation and the detailed financial tables are available on our website under Investor Relations.
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