MUNICH (dpa-AFX) - German chemical company Wacker Chemie AG (WKCMY.PK) reported Tuesday that its fiscal 2021 net income surged to 828 million euros from last year's 202 million euros.
Earnings per share were 16.24 euros, up from 3.81 euros last year.
At 1.54 billion euros, EBITDA was more than double the prior-year figure of 666 million euros, yielding an EBITDA margin of 24.8 percent, up from 14.2 percent last year.
Group sales were 6.21 billion euros in 2021, up 32 percent from 4.69 billion euros a year ago, driven by higher selling prices and volume growth across every business division.
Further, the Executive and Supervisory Boards will propose a dividend of 8.00 euros per share at the Annual Shareholders' Meeting.
Looking ahead for the first quarter, WACKER expects to post Group sales of about 2 billion euros, higher than last year. Group EBITDA is also poised for substantial growth and will rise more strongly than sales year over year, chiefly due to higher selling prices as well as continued high demand.
Further for fiscal 2022, WACKER expects Group net income to be markedly lower than last year.
Group sales would be approximately 7 billion euros, and EBITDA between 1.2 billion euros and 1.5 billion euros. The EBITDA margin is likely to decline substantially versus last year.
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