Evonik reports 38% decline in Q2 profits

MG News | August 10, 2023 at 10:40 AM GMT+05:00

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August 10, 2023 (MLN): German chemicals group Evonik Industries said on Thursday its second-quarter core profit fell 38% from last year, although it came in at the upper end of its preliminary forecast range, as the economic environment remained difficult, as Reuters reported.

The company, whose products are used in goods from animal feed and diapers to Pfizer/BioNTech's COVID-19 vaccine, posted adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 450 million euros ($494m) for the quarter.

This is above analysts' forecast of 447.6m euros provided by Vara Research.

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