Wacker’s polysilicon sales up 4% in Q3

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Major polysilicon producer Wacker has reported a slight increase in polysilicon revenue for the third quarter of 2015 as production capacity remains fully utilised.

Wacker’s Polysilicon segment reported third quarter sales of €271.4 million, a 4% increase from sales of €261.3 million in the prior quarter. Higher volume shipments from the prior year period were said to have offset declining market prices of polysilicon.

ASP declines were not reported but Wacker noted overcapacity remained an issue.

Third-quarter EBITDA totalled €91.8 million, compared to €180.3 million in the prior year period, a 49% decline. EBITDA margin was 33.8%, compared to 71.4% in the prior year period, due to the reduction in lower special income from advance payments retained and damages received from PV customers.

Guidance

Wacker’s segment volumes and sales are expected to grow slightly in 2015, while overcapacity is expected to remain an issue. The company reiterated that its new polysilicon plant Charleston, Tennessee was expected to start production before year-end.

EBITDA is also expected to decline, as special income from advance payments retained and damages received will be lower in 2015 than last year. EBITDA will also be reduced by start-up costs at the new production plant.