Wacker Chemie Faces Demand Slump Amid Industry Challenges

The chemical giant reports declining sales as the automotive and construction sectors weaken, but remains optimistic about its annual goals.

Wacker Chemie's third-quarter revenue decreased by 6% to €1.43 billion, with a 24% drop in operating profit.
The company is affected by reduced demand in the automotive and construction industries, as well as U.S. anti-dumping measures impacting solar product imports from Asia.
Despite challenges, Wacker Chemie maintains its annual forecast, targeting an operating profit between €600 and €800 million for 2024.
The polysilicon segment for semiconductor applications showed positive growth, contrasting with weaker solar polysilicon sales.
Wacker Chemie employs 10,600 people in Germany and 6,000 abroad, as it navigates a challenging economic environment.