Wacker Chemie Expects Continued Growth In Sales, Operating Result For FY16

(RTTNews) - German chemical company Wacker Chemie AG (WKCMY.PK, WKCMF.PK) said it expects continued growth in sales and operating result during the current year, fiscal 2016, following a good year in 2015.

At the Munich-based chemical company's 2016 Annual Shareholders' Meeting, CEO Rudolf Staudigl said, "We want to lift our sales by a low-single-digit percentage this year and estimate that EBITDA, adjusted to exclude special income, will climb by 5 to 10 percent."

In the first quarter of 2016, Wacker posted substantial quarter-over-quarter gains in both sales and adjusted EBITDA.

For fiscal 2015, Wacker is distributing a total of 99.4 million euros in dividends to its shareholders, compared with its payout of 74.5 million euros for the previous year.

The dividend per dividend-bearing share amounts to 2.00 euros after 1.50 euros the year before. The Executive and Supervisory Boards' other proposals were also adopted by large majorities.

This includes the board's proposal that 2015's retained profit of 1.22 billion euros be appropriated as follows - 99.4 million euros to be distributed to shareholders and 1.12 billion euros to be carried forward to new account.