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Wacker Chemie Q2 2026: EBITDA rises sharply on cost savings and pension provision effect
Wacker Chemie has reported second-quarter 2026 results showing a significant year-on-year increase in EBITDA, driven by savings from its PACE cost-cutting programme and a non-operating pension-related income effect.
Wacker Chemie has published its financial results for the second quarter of 2026, reporting Group sales of EUR 1,517.6 million – up 7 % year on year from EUR 1,412.9 million in Q2 2025. All four business divisions exceeded their prior-year sales figures, with the increase attributed partly to higher prices and volumes in certain areas. Group EBITDA reached EUR 211.3 million, an 85 % increase compared with Q2 2025 (EUR 114.3 million), with the EBITDA margin improving to 13.9 % from 8.1 %. The rise was driven by savings from the PACE cost-cutting and efficiency programme and non-operating income of EUR 36.7 million from a reduction in pension provisions. Excluding this special effect, operational EBITDA stood at approximately EUR 175 million, in line with market expectations.
CEO Christian Hartel commented: “Given the persistently weak market conditions and the challenges facing the chemical industry, Wacker performed well in the second quarter. The savings from our ongoing cost-cutting and efficiency program, PACE, are having an impact.” The programme targets annual savings of over EUR 300 million and is reported to be progressing on schedule. Hartel nonetheless cautioned that underlying demand from sectors including automotive and construction remains weak, stating: “On the demand side, we don’t currently see any sign of a turnaround.” Rising energy and commodity prices linked to developments in the Middle East, as well as intensifying competition from Asia, were cited as additional structural challenges.
Divisional performance and revised full-year guidance
At divisional level, Silicones reported sales of EUR 757 million (up 6 %) and EBITDA of EUR 123 million (up 18 %), supported by lower operating expenses and a favourable product mix. Polymers saw sales rise 12 % to EUR 406 million, with EBITDA up 74 % to EUR 69 million. Biosolutions grew sales 13 % to EUR 99 million. The Polysilicon division posted a 3 % sales increase to EUR 226 million, though EBITDA declined sharply to EUR 11 million (Q2 2025: EUR 34 million), due to weaker demand and lower prices in solar-grade polysilicon and higher energy costs. Net cash flow for the quarter totalled EUR 243.2 million, boosted by EUR 185.4 million in proceeds from the sale of shares in Siltronic.
For the full year 2026, Wacker Chemie now expects sales growth in the mid-single-digit percentage range, revised down from its previous high-single-digit forecast, reflecting lower expected commodity and energy prices. The EBITDA forecast has been raised to a range of EUR 625 million to EUR 750 million (previously EUR 550 million to EUR 700 million). Net financial debt is now expected at approximately EUR 500 million.
