Wacker Chemie (WCH) CMD 2026 summary

Strategic priorities and portfolio management

• Launched REFOCUS, a holistic strategy prioritizing profitability, ROCE, and selective growth in attractive markets, shifting from broad-based expansion to targeted investments and operational excellence.

• Introduced differentiated portfolio management with four roles: Accelerate Growth, Optimize Return, Maximize Cash, and Turnaround, each guiding resource allocation and KPIs.

• Emphasized innovation and downstream expansion in silicones, commercial excellence in biosolutions, and leadership in core segments including polymers and polysilicon.

• Portfolio now managed by granular business units with milestone plans and performance tracking.

• Enhanced team capabilities through leadership, digital skills, and AI upskilling programs.

Cost efficiency and operational improvements

• PACE program targets over €300 million annual gross savings by 2028, with more than 50% EBITDA-relevant; €85 million already saved in H1 2026.

• Organizational restructuring includes reducing 1,600 positions in Germany, merging units, and centralizing support to streamline decision-making.

• Completed SAP S/4HANA transformation, enabling AI scaling and advanced data infrastructure.

• Lowering break-even point and increasing resilience to invest in innovation and growth.

Financial guidance and capital allocation

• Ambition to achieve a structural EBITDA margin of 15% ±2pp and ROCE above 10%, leveraging existing assets and strict capital discipline.

• CapEx to remain below depreciation, in the €300–400 million range, prioritizing selective growth and maintenance.

• Dividend policy unchanged, targeting 50% of net income, with financial leverage capped at 1x EBITDA.

• Sustainability remains integral, with a pathway to Net Zero by 2045, a 43% GHG reduction since 2020, and a 50% reduction target by 2030.