Evonik sees broadly stable 2025 core earnings, with a rise in 1st quarter
March 5 (Reuters) - German chemicals group Evonik Industries (EVKn.DE), opens new tab on Wednesday forecast 2025 core earnings broadly in line with last year's figure and analysts' expectations, and said the first quarter result would rise from a year earlier.
Strict cost discipline and good volume development at its speciality additives business have so far helped Evonik to overcome the difficult market environment.
"We advanced during the economic and political headwinds of last year," CEO Christian Kullmann said in a statement.
The Essen-based company sees adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of between 2.0 billion and 2.3 billion euros ($2.1 billion and 2.4 billion) this year, compared with 2.07 billion euros in 2024.
Analysts' median forecast for 2024 adjusted EBITDA was 2.08 billion euros, which they were expecting to rise to 2.15 billion in 2025, a poll compiled by Vara Research, opens new tab showed.
For the first quarter of 2025, the group expects adjusted EBITDA above the 522 million euros it had reported last year.
Aiming to slim down its business, Evonik in December announced the biggest restructuring programme in its history, which might reduce its workforce by more than a fifth.
"We promised to carry out the reorganization in a socially responsible manner and we are keeping our word," the company said, adding the reorganization and job cuts were advancing according to the plan.
The German sites in Marl and Wesseling will be carved out later this year, which should help Evonik focus on its chemical businesses, it said.
As part of the restructuring, the speciality chemicals maker also implemented the split of its former Technology & Infrastructure unit into separate functions on January 1, it added.
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