London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Evonik raises outlook for 2010 following a strong start to the year

May 14/2010

(Evonik) -- We started this year with strong figures, commented Klaus Engel, Chairman of the Executive Board of Evonik Industries AG, today, when the company published its key financial data for the first quarter of 2010. The Group reported a substantial improvement in all major financial indicators. In particular, earnings have increased steadily. The economy is starting to recover and our confidence is growing. Nevertheless, the economic situation remains uncertain, said Engel.

 

The Evonik Group grew sales to ?3,769 million in the first quarter of 2010, a rise of 18 percent on the year-back quarter, which was marked by the economic crisis. EBITDA (earnings before interest, taxes, depreciation and amortization) increased 126 percent to ?744 million, principally due to far higher volume sales. The EBITDA margin improved to 19.7 percent (Q1 2009: 10.3 percent), bringing it to a good level. EBIT (earnings before interest and taxes) more than quadrupled to ?554 million, driven mainly by the pleasing development of the Chemicals and Energy Business Areas. Overall, the Evonik Groups net income was ?290 million, compared with a loss of ?46 million in Q1 2009.

 

The cash flow from operating activities advanced 20 percent to ?530 million. This was mainly attributable to a far higher operating result, while net working capital increased as a result of a perceptible upturn in business. The cash flow was sufficient to finance capital expenditures of ?117 million and to reduce net financial debt to ?3,192 million, a decline of ?239 million compared with year end 2009.

 

mrcplast.com

Evonik raises outlook for 2010 following a strong start to the year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tags:No
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe