MUNICH (dpa-AFX) - Wacker Chemie anticipates lower profits in 2024 due to a persistently difficult business environment. After significant losses last year due to the economic situation and energy prices, CEO Christian Hartel is targeting sales of EUR 6 to 6.5 billion and earnings before interest, taxes, depreciation and amortization of between EUR 600 and 800 million, according to a statement on Tuesday. The average analyst estimates are in the lower half of the range for turnover and in the upper half for operating profit. In 2023, the turnover and operating result of the MDax company - as already known - fell significantly compared to the exceptionally strong previous year. The dividend is now falling.

Shareholders are to receive 3.00 euros per share - down from 12 euros last year. The reduction comes as no surprise, as Wacker Chemie usually distributes around half of the net profit from continuing operations. Net income in 2023 had plummeted by almost one billion euros to 330 million euros./mis/stk