Germany's Evonik posts second-quarter core profit below market view
It posted a 12% drop in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to 509 million euros ($581.3 million) in the April-June quarter. This was below a 511 million-euro forecast by analysts in a Vara Research, opens new tab poll.
The group also said it expects adjusted EBITDA at the lower end of a 2 billion-2.3 billion euro forecast, provided the global economy does not weaken further.
Analysts' median forecast for 2025 core profit stands for 2.02 billion euros, according to Vara Research, opens new tab.
Evonik reported an 11% year-on-year decline in sales to 3.5 billion euros, mostly due to currency headwinds and the sale of its superabsorbents business, which was still part of the company through the second quarter of 2024.
The German chemicals sector, the country's third-largest, has been struggling for years with subdued demand, high energy costs, supply chain issues and an overall economic slowdown.
($1 = 0.8756 euros)
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Grocery price inflation falls slightly to 5% in August
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The Sun
13 minutes ago
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The Sun
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Mark with a 'one' any purchases that didn't make you feel good; give a 'two' rating to things that felt 'sort of good but indifferent'; and mark with 'three' any purchases that you would make all over again in a heartbeat. You'll be surprised by what you learn. Monitor your credit report From overdrafts to loans, credit cards, mobile phones and mortgages, it can be hard to keep track of your finances, and it can be all too simple to find yourself in the dark about how much debt you have in total. But this information forms your credit score, which is used by lenders to determine whether you'll be offered competitive rates and offers for financial products, or even whether you will even be accepted when you make an application. I use MoneySuperMarket's Credit Score tool, which is a free credit report tool that lets me see all my account balances in one place. 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