WKCMF - Wacker Chemie AG (WKCMF) Q1 2024 Earnings Call Transcript
2024-04-25 17:21:08 ET
Wacker Chemie AG (WKCMF)
Q1 2024 Results Conference Call
April 25, 2024 10:00 AM ET
Company Participants
Joerg Hoffmann - Head of Investor Relations
Christian Hartel - CEO, President & Member of Executive Board
Tobias Ohler - CFO & Member of the Executive Board
Conference Call Participants
Sebastian Satz - Citi
Jaideep Pandya - On Field Research
Chetan Udeshi - JPMorgan
Andreas Heine - Stifel
Sebastian Bray - Berenberg
Presentation
Joerg Hoffmann
Welcome to the Wacker Chemie AG Conference Call on the First Quarter 2024 Results. Dr. Christian Hartel, our CEO; and Dr. Tobias Ohler, our CFO, will take you through our prepared statements momentarily.
The press release, the IR presentation, and detailed financial tables are available on our webpage under the caption Investor Relations. Please note that management's comments during this call include forward-looking statements involving risks and uncertainties. We encourage you to review the safe harbor statement in today's press release, presentation, and our '23 annual report regarding risk factors. All documents mentioned are available on our website. Chris?
Christian Hartel
Welcome, everyone. As you saw in 2023, economic headwinds at lower prices over last year defined our quarterly results. In 2024, we started with the low exit rates of the previous year 2023. And as a result, sales and EBITDA for the first quarter are markedly lower year-over-year. On the other hand, sequential developments are more processing.
When we published our full-year results in March, we provided a trading update on the first quarter of 2024. In line with our expectations, sales came in at €1.5 billion. Group EBITDA, on the other hand, came in at the upper end of our expectations. This was primarily good business development on the one hand and some positive effects in the other segment....
Wacker Chemie AG (WKCMF) Q1 2024 Earnings Call Transcript