MUNICH (dpa-AFX) - German chemical company Wacker Chemie AG (WKCMY.PK) reported Thursday that its first-quarter net income totaled 403 million euros, higher than 118 million euros last year. Earnings per share were 7.92 euros, compared to prior year's 2.29 euros.
EBITDA was 644 million euros, more than double the prior year's figure of 258 million euros. The EBITDA margin was 31.0 percent, compared to 19.0 percent last year.
The Munich-based company generated sales of 2.08 billion euros, 53 percent higher than last year's 1.36 billion euros.
Looking ahead, WACKER raised its sales forecast for full-year 2022. The company now expects to post Group sales of approximately 7.5 billion euros, compared to previous forecast's about 7.0 billion euros.
WACKER expects to continue on its growth trajectory in 2022 despite the significant risks to the global economy due in particular to the impact of the war in Ukraine, but also to the ongoing coronavirus pandemic.
In 2021, sales were 6.21 billion euros.
EBITDA for 2022 is currently anticipated to come in at between 1.2 billion euros and 1.5 billion euros, with the higher figure being close to last year's 1.54 billion euros. The previous projection was around 1 billion euros.
The company said higher energy and raw-material costs are likely to impact EBITDA by around 1.1 billion euros.
After a very good start this year, the company expects that full-year EBITDA will likely trend toward the upper end of the projected range.
Regarding the medium-term prospects, the company said aims to achieve sales of over 10 billion euros by 2030, with an EBITDA margin of more than 20 percent.
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