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Evonik Q3 net profit surges 55% to ?260m amid strong sales

November 16/2010

(ICIS) -- Evonik posted a third-quarter net profit of ?260m ($356m), up 55% year on year, amid strong sales, the Germany-based specialty chemicals maker said on Monday.

Sales during the July-September period rose 24% year on year to ?4.09bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 18% to ?744m, Evonik said in a statement.

Stronger global demand, a substantial improvement in capacity utilisation and higher efficiency at production plants raised earnings considerably for Evoniks chemicals business during the January-September period, the company said.

Evoniks Performance Polymers Business Unit manufactures monomers, polymers and sheet materials. These products are based on methacrylate chemistry, specialty polyamides and other high-performance polymers such as PEEK. With its three business lines, Acrylic Monomers, Acrylic Polymers and High Performance Polymers, the business unit achieved sales of about ?1.1 billion in 2009.


Evonik Q3 net profit surges 55% to ?260m amid strong sales

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