MUNICH, Germany—Wacker Chemie A.G.'s silicones business has posted a 23 percent profit rise despite flat sales in the third quarter of 2016.
Sales for the three months ending in September stood at $546.6 million, on a par with the previous year's $547.3 million. Volumes, were “somewhat higher” than a year ago but prices for a number of product groups edged lower, the Munich-based company said.
Sales also were affected negatively by exchange rate.
On a quarter-to-quarter basis, the division's sales were 2 percent lower at $560.9 million, due to price and volume effects.
EBITDA, reported at $109.8 million in the quarter, was roughly 23 percent higher than a year before. The figure showed an 8 percent rise compared to the preceding quarter
Higher plant utilization—at over 90 percent on average—and low costs were the contributing factors for the profit.