Wacker Chemie AG (WCHN) AI Stock Analysis

Company Guidance

Wacker confirmed its full year EBITDA range of EUR 625 million to EUR 700 million -- EUR 750 million and expects full year EBITDA in the upper half of that range; PACE savings are expected to reach approximately EUR 200 million this year, with a target to achieve more than EUR 300 million in 2028, while Other EBITDA is expected at approximately minus EUR 15 million. Silicones and Polymers are expected to deliver mid-single-digit percentage sales growth, with EBITDA margins above the prior year level; Biosolutions EBITDA is expected to be around EUR 30 million; and polysilicon sales were initially expected to show high single-digit percentage sales growth with EBITDA close to the prior year level, although management later said overall polysilicon sales will be similar to last year and there will be no strong pickup in Q4. Full year 2026 CapEx is expected at approximately EUR 300 million, net financial debt is expected to decline to around EUR 200 million by year-end, and future CapEx will remain below depreciation and in the range of EUR 300 million to EUR 400 million, with a financial leverage target of around 1x EBITDA. Wacker’s structural ambitions are GDP plus growth, a structural EBITDA margin of 15%, plus/minus 2 percentage points, and ROCE back as soon as possible to above 10% and our cost of capital.