Evonik: The range is getting smaller

According to preliminary figures, Evonik has an adjusted EBITDA of 519 million euros in the third quarter. The consensus had expected 471 million euros. Sales fell by 10 percent to 2.92 billion euros. For the full year, the group expects adjusted EBITDA of EUR 1.8 billion to EUR 2.0 billion. Previously, the range was 1.7 billion euros to 2.1 billion euros.

DZ Bank analysts are responding to the new expectations. They expect an adjusted EBITDA of 1.921 billion euros for 2020, previously they had assumed 1.873 billion euros.

As before, they recommend buying Evonik shares. The price target remains at EUR 28.00.

Experts see earnings per share at EUR 1.53 in 2020 (old: EUR 1.46). The forecast for 2021 has been raised from 1.72 euros to 1.82 euros.

Evonik’s shares lose 0.3 percent to 22.91 euros.

At a glance – chart and news: Evonik Industries

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