May 22 (Renewables Now) - German firm Wacker Chemie AG (ETR:WCH) will be developing new products in the areas of sustainable energy generation, electromobility and energy efficiency.
At its annual general meeting on Friday, CEO Rudolf Staudigl said the company intends to introduce new products such as adhesive additives for wind turbines, high-performance silicones for electric vehicles (EVs), and dispersible polymer powders for building insulation systems.
The overall goal of the chemical company is to expand production capacities, boost the efficiency of its plants and cut raw-material and energy use.
Wacker expects its earnings before interest, tax, depreciation and amortisation (EBITDA) margin to surpass 30% for the polysilicon business, and 16% for the chemical divisions. It also aims to increase sales by a mid-single-digit percentage this year. Still, rising prices of raw materials are seen to hurt full-year EBITDA.
“Sales growth, lower capital expenditures and continuing efficiency and cost improvements will all lift our cash inflow from operating activities in the coming years," Staudigl said. In line with such expectations, the firm has changed its dividend policy and is now distributing about half of its annual net profit to shareholders, instead of at least 25% as it did previously.