Wacker Chemie AG reported a significant decline in both sales and earnings for the second quarter of 2024. The chemical company generated EUR 1.5 billion in revenue during the period, marking a 16 percent drop compared to the same quarter last year. Lower solar-grade polysilicon volumes were primarily responsible for the decline.

EBITDA slumped 37  percent year-on-year to EUR 160 million, reflecting a similar impact from reduced volumes. The company’s EBITDA margin contracted to 10.9 percent from 14.6 percent in the prior-year quarter.

Net income plummeted 72 percent to EURO 43 million, resulting in earnings per share of EURO 0.58, down from EURO 2.38 in the same period last year.

Full-Year Outlook Maintained

Despite the challenging quarter, Wacker confirmed its full-year forecast, projecting sales between EURO 6 billion and EURO 6.5 billion and EBITDA in the range of EURO 600 million to EURO 800 million.

CEO Christian Hartel acknowledged the ongoing economic challenges but expressed optimism about signs of recovery. He highlighted growth in speciality silicones and polymer dispersions and increased polysilicon demand from the semiconductor industry and biopharmaceuticals.

Regional Performance

• Asia: Sales plunged 33 percent to EURO 540 million.
• Americas: Sales rose 3 percent to EURO 276 million.
• Europe: Sales dipped 5 percent to EURO 570 million.

Business Division Performance

• Wacker Silicones: Sales rose 3 percent to EURO 719 million, driven by growth in industrial coatings and consumer-related applications. EBITDA surged 73 percent to EURO 90 million.
• Wacker Polymers: Sales declined 7 percent to EURO 389 million due to lower prices. EBITDA dropped 23 percent to EUR 59 million.
• Wacker Biosolutions: Sales jumped 8 percent to EURO 98 million, boosted by the biopharmaceutical business. EBITDA improved to EURO 1.1 million from a loss in the prior year.
• Wacker Polysilicon: Sales plummeted 55 percent to EURO 232 million due to lower volumes. EBITDA fell 65 percent to EUR 55 million.

As part of a strategic effort to increase its presence in the region's premium original equipment (OE) market, Kumho Tire has confirmed its plans to establish its first tyre production facility in Europe by 2027.

The company has shortlisted Poland, Serbia and Portugal as possible locations for the plant, which is projected to need an investment of more than KRW1 trillion (USD 705 million). The decision is closely linked to Kumho’s ambition to strengthen its partnerships with European automakers and was revealed by Kumho Tire CEO during the South Korean premiere of Kumho's new Ecsta Sport tyre line.

Kumho has recently secured OE supply contracts with major brands such as Mercedes-Benz, BMW and Volkswagen Group. At the moment, Kumho runs eight tyre production plants in China, Vietnam, South Korea and the US. Its capacity to compete in the premium OE market, however, has come to be perceived as being constrained by the absence of a European production base. Through the benefits of local production, the new facility will improve response to European client requests, save freight costs and shorten delivery times, all of which will strengthen the company's partnerships.

Sentury Tire USA has opened pre-enrolment for its two associate dealer programmes (ADPs), the Delinte HYPERDRIVE Associate Dealer Program and the Landsail Elyte Associate Dealer Program, underscoring the company’s commitment to rewarding dedication and partnership to the Landsail and Delinte brands.

The ADPs, which are customised for each brand and intended to encourage dealers, will formally start on 1 June 2025. Both programmes give dealers access to special benefits, incentives and strong tools to help them expand their businesses. This involves dependable customer service, effective marketing and worthwhile financial incentives to promote dealers' success at every stage.

Beginning in Q3, dealers may earn up to USD three per tyre through the Delinte HYPERDRIVE Associate Dealer Program. Dealers can receive retroactive benefits for purchases completed in Q2 if they register before 1 June. The awards are available for all Delinte PTR, LTR and the new DV3 LMD AS last-mile delivery tyres. For all Landsail PTR and LTR tyres, independent dealers that sign up for the Landsail Elyte Associate Dealer Program can also earn up to USD three per tyre. For customers who sign up by June 1, the new LMD 100 AS last-mile delivery is also eligible for the benefits and will get the same early bird incentive for Q2 2025.

No initial order is necessary. Dealers only need to register to begin making money. According to the monthly programme rewards structure, 48 tyre purchases each month are eligible for a reward of USD one per tyre, 120 tyres are eligible for a reward of USD two per tyre and 240 or more tyres are eligible for a reward of USD three per tyre.

ENSO, a London-based tyre manufacturer engaged in the production of sustainable tyres specially designed for electric vehicles (EVs), has launched its new ENSO Premium range of EV-specific ultra-high-performance (UHP) tyres aimed at drivers of high-performance EVs such as the Tesla Model 3 and Model Y.

Specifically designed for electric passenger vehicles, the ENSO Premium range comes with A/A EU-label ratings for both energy efficiency and wet grip. The tyres are designed to provide safety, increased range and a reduced total cost of ownership. Conventional tyre designs frequently fall short of the special performance needs of electric vehicles, which include greater vehicle weight, regenerative braking and higher torque loads. By lowering tyre wear and rolling resistance, ENSO Premium takes care of these issues.

The company is an authorised provider of replacement tyres for LEVC's electric taxis and has partnered with Uber to install its tyres in high-mileage metropolitan areas. The company now plans to grow throughout Europe and North America, and with ENSO Premium, it is now offering its services to individual EV owners throughout the United Kingdom. According to ENSO, the range offers advantages including longer tyre life and fewer replacements, lower energy usage, fewer charging stops and lower CO₂ emissions and tyre particle pollution.

Gunnlaugur Erlendsson, CEO and Co-Founder, ENSO, said, “We’re plugging a long-standing gap in the tyre market by offering EV drivers a purpose-built, affordable, premium EV tyre alternative that matches the innovation of their EV.”

Kraton Corporation, a leading global sustainable producer of specialty polymers and high-value bio-based products derived from pine wood pulping co-products, has announced a general price hike in North America for its SBS, SIS and HSBC product lines with effect from 1 May 2025.

Following a careful analysis of the effects of recently implemented tariffs, related cost increases and a conclusion that the company cannot independently absorb these repercussions, Kraton is adopting these pricing hikes, according to a company statement. The company further said that it will keep an eye on the scene and reassess these measures promptly in the event that conditions and US import tariffs alter.