(RTTNews) - Wacker Chemie (WKCMY.PK, WKCMF.PK) reported second quarter net income of 34.8 million euros, down 70.7% from last year. Earnings per share was 0.58 euros compared to 2.40 euros. EBITDA was 160 million euros, down 37 percent year over year. EBITDA margin was 10.9 percent compared to 14.6 percent.

Sales were 1.47 billion euros, down 16.3% from a year ago. The company said this trend was due primarily to much lower solar-grade polysilicon volumes.

The company has confirmed its forecast. WACKER expects business to be slightly down in 2024. Sales guidance is in the range of 6.0 billion euros to 6.5 billion euros. EBITDA is predicted at between 600 million euros and 800 million euros. The EBITDA margin is likely to be markedly lower than last year, the company said.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

ncG1vNJzZmilkae4psDSZ5muq5mjsrS%2FyKeqopyVp3uku8xopZ6vo2TAtbvCpKpor5GYuKa%2BjJyfnqWZmnqyfoynnK1lmaOwsLnEZpuem5yeu6a%2FjJymp56Zp7q0eZFpaW1ll6q2pa3NnJxmaWBogHaFl21qaQ%3D%3D