Full Breakdown
Wacker Chemie’s Stock Reacts to Revised Guidance and New Profitability Targets
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Market Reaction to Revised Guidance
On September 15, 2026, Wacker Chemie shares rose 1.11 % on Xetra to about EUR 86.30. The next day the stock closed at EUR 88.65, up 2.72 % and outperforming the DAX. On September 17, 2026, intraday losses pulled the price back into the mid-80 € range, with reports of a 3.38 % drop to EUR 85.65 and a 3.1 % slip to EUR 85.95. The volatility followed the company’s announcement that it had lowered its growth guidance while reaffirming a focus on profitability.
Capital Markets Day: New Financial Ambitions
At its Capital Markets Day on September 17, 2026, Wacker Chemie unveiled a “REFOCUS” strategy aimed at outpacing global GDP growth. The plan sets an EBITDA margin target of 15 % (± 2 pp) and a ROCE goal of > 10 %. Cost efficiency will be driven by the PACE program, projected to generate savings exceeding €300 million per year from 2028. Annual capital expenditures are slated at €300-€400 million, with a similar budget for selective growth-market investments, both below depreciation and amortisation levels. The company also reaffirmed its Net-Zero emissions target for 2045.
Analyst Outlook and Valuation
Jefferies maintained a Hold rating, assigning a price target of EUR 93.00. With the share price around EUR 88.65 on September 16, 2026, the target implies roughly 4.9 % upside. The average analyst target that day was modestly higher than the current price, reinforcing a cautious outlook. Over the past year the stock has risen 25.31 % YTD on Tradegate, remaining well below its 52-week high of EUR 105.60 and comfortably above the 52-week low of EUR 61.15.
Data & Statistics
- Share price: EUR 86.30 (Sept 15), EUR 88.65 (Sept 16), mid-80 € range (Sept 17)
- 52-week range: EUR 105.60 – EUR 61.15
- YTD gain: 25.31 % (Tradegate)
- EBITDA margin target: 15 % ± 2 pp
- ROCE target: > 10 %
- PACE savings: > €300 million per year from 2028
- Annual capex: €300-€400 million
- Selective-investment budget: €300-€400 million
Official Statements & Responses
The CEO emphasized that the strategy builds on existing efficiency measures and aims to strengthen competitiveness amid shifting geopolitical and economic conditions. CFO Tobias Ohler explained that the company will steer investments toward businesses with attractive growth profiles—particularly in electronics, healthcare and mobility—while maintaining a disciplined, capital-intensive approach that supports the > 10 % ROCE objective. Both executives reiterated the Net-Zero by 2045 goal and noted a 43 % reduction in CO2 emissions in 2025 versus the 2020 baseline.
Verbatim Quotes
- “With REFOCUS, we aim to unlock WACKER's full potential by continuing to selectively drive our growth and by sustainably increasing our profitability,” — CEO Christian Hartel
- “We currently expect third-quarter EBITDA to be on par with that of the second quarter. Our chemical business is currently performing stable to slightly better than in the second quarter. The solar-grade polysilicon business, on the other hand, remains challenging.” — Christian Hartel
What’s Next
Analysts will monitor upcoming quarterly results to assess whether the EBITDA margin and ROCE targets are being met and whether the PACE savings materialize as scheduled. Execution of the selective-investment plan and progress toward the Net-Zero commitment will also shape investor sentiment in the weeks ahead.