Wacker Chemie Q1 core profit beats expectations as orders pick up

German chemical company Wacker Chemie WCH on Thursday reported a 39% fall in first-quarter core profit largely due to lower selling prices, but still beat analysts' expectations, aided by an increase in orders and by cost-cutting measures.

The specialty chemicals maker reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 172 million euros ($184.16 million), compared to 281 million euros a year ago, but beating the 150.2 million euros expected by analysts in a company-provided poll.

($1 = 0.9340 euros)