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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.


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

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