Wacker Chemie AG, the German chemical company that turns 100 this year, rose the most in more than five months after it boosted its earnings forecast on cost cuts and strong demand for polysilicon.

Wacker jumped as much as 6.5 percent in Frankfurt, the steepest intraday gain since Feb. 6, after saying earnings before interest, taxes, depreciation and amortization will increase at least 33 percent over last year’s 678.7 million euros ($914 million). Munich-based Wacker had earlier expected Ebitda to increase at least 10 percent. The stock rose 4.6 percent to 92.68 euros by 4:20 p.m. local time.

“The upward revision is based on good business performance and strong demand, especially at Wacker Polysilicon, and success at reducing costs,” the company said today in a statement. Wacker sees additional “special income” from its polysilicon unit this quarter after it terminated and restructured contracts with solar industry customers, it said.

Wacker, by far Europe’s biggest supplier of solar-grade polysilicon, struck an agreement with Chinain March on exports to the world’s biggest solar market. That deal and an expected recovery in polysilicon prices will benefit income this year, Chief Executive Officer Rudolf Staudigl said at the time.