Wacker Chemie AG : Final Q4 in line with prelims, proposed € 3.0 div below cons; EBITDA 2024 outlook mid-point 10% below consensus; decent start into Q1
>Final FY 2023 results in line with preliminaries - Final FY 2023 results confirmed the comprehensive preliminary results reported 29 January with EBITDA of € 824m dropping 60% y-o-y compared to € 2,081m reported in 2022. Preliminary Q4 2023 dropped 62% y-o-y to € 136m fuelled by all segments. FCF 2023 of € 166m declined from € 564m on lower earnings and despite strong NWC tailwind.Lower than expected € 3.00 dividend proposed - Wacker proposed a € 3.0...Wacker Chemie is active in chemical products. Co. operates in five divisions: Wacker Silicones, which provides products ranging from silicone fluids and emulsions, resins, elastomers and sealants, to silanes and pyrogenic silica grades; Wacker Polymers, which manufactures binders and polymeric additives (such as dispersible polymer powders and dispersions); Wacker Biosolutions, which supplies customized biotech and catalog products for the fine-chemical sector; Wacker Polysilicon, which produces hyperpure polysilicon for the semiconductor, electronics and above all, solar sectors; and Siltronic, which supplies semiconductor manufacturers with silicon wafers.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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