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Evonik Q3 net income falls

November 05/2019

MOSCOW (MRC) -- German chemicals group Evonik Industries reported a 6% drop in its third-quarter adjusted core profit, citing global economic slowdown, said Reuters.

Third-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, dropped to 543 million euros (USD604 million), but slightly above the average estimate of 537 million euros in a company-provided poll.

Evonik confirmed its full-year outlook of adjusted EBITDA to at least reach last years level of 2.15 billion euros, excluding its methacrylates unit, the maker of plastics for clear acrylic sheet it sold to buyout group Advent in August.

In September 2019, Evonik expanded its production capacity for the high-purity C13 alcohol isotridecanol (ITDA) at the Marl Chemical Park. This will enable the specialty chemicals group to continue to build on its position as manufacturer of this product, and to grow with its customers.

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evoniks corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 36,000 employees.
Author:Anna Larionova
Tags:petroleum products, petrochemistry, Evonik.
Category:General News
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