Evonik: "We got off to a good start"

Specialty chemicals group Evonik slightly exceeded its previous year's results in the first quarter. EBITDA climbed by seven percent to €560 million. The Executive Board attributed this solid performance in a difficult market environment to cost discipline, increased sales volumes, and higher prices in the animal feed business.

CEO Christian Kullmann expressed his satisfaction with the sale of the business, but also warned: "We got off to a good start to the year. However, the combination of a looming global trade war and armed conflicts makes future planning more uncertain than ever. There is a risk of a further economic slowdown, particularly for the second half of the year." While revenue remained roughly stable at €3.78 billion, slightly below analysts' forecasts, operating profit slightly exceeded market expectations. The adjusted EBITDA margin, meanwhile, increased by one percentage point to 14.8 percent. Net profit increased significantly from €156 million to €233 million. Cash flow increased by 53 percent to €195 million. CFO Maike Schuh expressed her satisfaction: "Our efficiency efforts are paying off. And this is urgently needed in light of renewed economic concerns. The more unpredictable the environment, the clearer our path must be: Deliver the improvements we promise."

Despite the uncertainties due to the "intensifying protectionist trade policy of the USA," Evonik management confirms its profit forecast for 2025, which continues to expect adjusted EBITDA of EUR 2.0 to 2.3 billion.