Wacker Chemie scraps outlook on weak solar, chips
FRANKFURT, July 25
FRANKFURT, July 25 (Reuters) - Wacker Chemie, the world's No.2 maker of polysilicon, lowered its outlook blaming consolidation in the solar industry and a slowdown in demand in the semiconductor sector, two of the group's main business areas.
The company on Wednesday said it now expected 2012 sales to be slightly below 2011 levels, when sales reached 4.91 billion euros ($5.9 billion). Wacker had previously guided for sales of about 5 billion euros.
Second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 241 million euros, slightly higher than the 235 million average estimate in a Reuters poll of banks and brokerages. ($1 = 0.8275 euros) (Reporting by Christoph Steitz)