Sales and earnings rise in Q1 / Forecast confirmed / Methacrylates “positive”
In a strong first-quarter performance, German speciality chemicals producer Evonik (Essen; www.evonik.com) improved its group EBITDA by 14% to EUR 679m as sales rose 1% to just under EUR 3.7 bn. The euro-denominated sales increase was depressed by the weakness of the US dollar. The adjusted EBITDA margin improved to 18.5% from 16.4% a year earlier. CEO Christian Kullmann confirmed his earlier forecast for full year 2018, which foresees slightly higher sales, with adjusted EBITDA in the EUR 2.4-2.6 bn range, up from the previous forecast of EUR 2.36 bn. This is thanks, he said, to the group’s strong market positions in its four growth engines of Specialty Additives, Animal Nutrition, Smart Materials and Health & Care.

In the Performance Materials segment, which Evonik has put up for sale – see Plasteurope.com of 08.03.2018 – revenue advanced by 4% to EUR 995m, due largely to higher selling prices. Here, too, currency fluctuations had a counter-effect. The segment’s adjusted EBITDA improved 14% to EUR 179m. Evonik said the methacrylates division (MMA and PMMA) continued to perform “positively,” with sales up considerably. With market supply still tight – see Plasteurope.com of 06.04.2018 – demand for PMMA, especially from the coatings and automotive sectors, remained buoyant.

Evonik’s Resource Efficiency segment reported a sales rise of 3% to EUR 1.4 bn in the first quarter of 2018. The group said the sales increase reflects the consolidation of businesses acquired from J. M. Huber (Atlanta, Georgia / USA; www.huber.com) in September last year, along with higher selling prices. Adjusted EBITDA rose 9% to EUR 325m.
15.05.2018 Plasteurope.com [239713-0]
Published on 15.05.2018
German version...German version of this article...

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