* Q3 sales 1.2 bln eur vs 1.19 bln in poll
* Q3 EBITDA 204 mln eur vs 201 mln eur in poll
* Says 2012 sales to reach 4.6-4.7 bln eur
* Says 2012 EBITDA to reach about 750 mln eur
* Shares indicated 1.5 percent lower
FRANKFURT, Oct 24 Wacker Chemie, the
world's No.2 maker of polysilicon, said its sales and core
earnings would fall significantly this year, burdened by the
solar industry's ongoing crisis.
The group said its earnings before interest, tax,
depreciation and amortisation (EBITDA) would fall to 750 million
euros ($972 million) this year, which is down from 1.1 billion
euros in 2011 and less than analysts had projected.
Sales are expected to reach 4.6-4.7 billion euros, down from
4.9 billion euros last year, it added.
Previously, the company said only that sales would fall
below the year-earlier level, while EBITDA was seen
significantly below the 2011 level. According to StarMine
estimates, 2012 sales are seen at 4.7 billion this year, while
EBITDA is expected to reach 812 million euros.
"Sustained price competition, high inventories, the
difficult financial situation of many market players and the
anti-dumping proceedings against Chinese solar manufacturers
currently characterise our polysilicon business," Chief
Executive Rudolf Staudigl said.
Wacker's polysilicon unit, which supplies the solar sector,
posted a 29 percent fall in third-quarter sales, while the
margins for EBITDA fell to 29 percent from 47 percent in the
In 2011, the unit accounted for about 30 percent of group
sales and about two-thirds of EBITDA, with an EBITDA margin of
more than 50 percent.
The unit has come under pressure by a trade war in the solar
industry, with Western players alleging price dumping in
European and U.S. markets, leading the United States to impose
steep duties on solar energy imports from China.
Wacker Chemie's main rivals in the production of polysilicon
include Hemlock Semiconductor, a joint venture between Dow
Corning, Shin-Etsu Handotai and
Mitsubishi Materials, as well as Korean OCI Co Ltd
and China's GCL-Poly Energy Holdings.