Driven by substantially higher depreciation, net income at German specialty chemicals producer Wacker Chemie AG slipped 22 per cent year on year to €189 million in full year 2016. However, full year of 2016 EBITDA, increased 5 per cent, despite lower special income and sales grew slower at 2 per cent over 2015 to total €5.4 billion in 2016.
The company has proposed a dividend of €2.00 per share, which corresponds to 53 per cent of net income.Driven by substantially higher depreciation, net income at German specialty chemicals producer Wacker Chemie AG slipped 22 per cent year on year to €189 million in full year 2016. However, full year of 2016 EBITDA, increased 5 per cent, despite lower special income and sales grew slower at 2 per cent over 2015 to total €5.4 billion in 2016.#
For the current year, Wacker Chemie expects to grow in the mid-single digit range, with adjusted EBITDA expected to remain at the same level as in 2016.
The German company also projects net cash flow to total around €400 million in 2017. (AR)
ALCHEMPro News Desk – India
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