Wacker’s Q3 figures were a strong show of force in the P&L development. The performance left scratch-marks in the NWC inflows, which we believe will be patched up in Q4. Strong demand (1/3rd) and higher sales prices (2/3rds) were the drivers. Meanwhile Polysilicon’s business environment looks completely different compared to the beginning of the year with a strong positive effect on profitability, which has already forced us to take a positive stance.
