Evonik Industries recorded a decline in EBITDA from EUR 543 million to EUR 519 million in the third quarter, but it did better than expected. By consensus, analysts had only expected an EBITDA of 471 million euros for the chemical company. “In the course of the third quarter there was already a positive trend from month to month. This increased further in September and, overall, led to results above expectations, ”said Evonik on Thursday. The Specialty Additives and Smart Materials divisions in particular drove development forward.
With a drop in earnings from EUR 0.42 per Evonik share to EUR 0.40, the company is also above the forecasts of the share analysts. Evonik’s sales, on the other hand, of 2.92 billion euros, are more or less at the level of analysts’ expectations – the consensus was 2.93 billion euros. In the same quarter of the previous year, the Essen-based company achieved sales of 3.23 billion euros.
After the free cash flow also developed better than expected, Evonik is raising the forecast for this figure for 2020 to 700 million euros. For EBITDA, the forecast range is narrowing from 1.7 billion euros to 2.1 billion euros to 1.8 billion euros to 2.0 billion euros. Sales should continue to be between 11.5 billion euros and 13.0 billion euros.
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