FRANKFURT -(Dow Jones)- German chemicals company Wacker Chemie AG (WCH.XE) Thursday reported a slump in third-quarter net profit and said it still expects its sales and operating result to be significantly lower than last year.
MAIN FACTS:
- Third-quarter sales up 7% at EUR987 million compared to the second quarter.
- Earnings before interest, taxes, depreciation and amortization climbs 8% quarter-on-quarter to EUR184 million despite non-recurring charges of EUR52 million.
- Net profit for the period reaches EUR35.9 million compared to EUR170.8 million a year earlier.
- Higher demand and sales volumes in third quarter drive confidence.
- Expects fourth quarter to reflect the usual seasonal effects that normally tend to dampen Wacker´s business during the final months.
- For 2010, the Munich-based chemical company is cautiously optimistic.
- Providing the economic recovery continues - especially in Wacker´s key markets and regions - the company sees a good chance of increasing both consolidated sales and operating result in 2010.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
(END) Dow Jones Newswires 11-05-09 0206ET Copyright (c) 2009 Dow Jones & Company, Inc.
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