Wacker Chemie Q2 Profit Rises

Wacker Chemie reported that net income for second quarter reached €142.7 million compared to €135.4 million in the year-ago period, resulting in earnings per share of €2.87 versus €2.71 last year.

Second quarter sales increased 10% to €1.33 billion from €1.20 billion for the same period last year mainly due to the higher sales volumes generated by sustained customer demand.

Looking forward, Wacker expects full-year sales and earnings to rise in 2011. group sales are forecast to top €5 billion. EBITDA for fiscal 2011 is anticipated to exceed last year's figure of €1.19 billion.