Plus   Neg

Evonik Q4 Profit Surges; Sees Sales To Remain Stable In 2020

Specialty chemicals company Evonik Industries AG (EVK.DE) reported that its fourth-quarter net income significantly increased to 160 million euros from 4 million euros in the previous year. Adjusted EBIT grew to 253 million euros from 200 million euros in the prior year.

Sales for the fourth-quarter slightly increased to 3.28 billion euros from 3.26 billion euros in the previous year.

The company expects sales to remain stable and an adjusted EBITDA of between 2.0 billion euros and 2.3 billion euros in 2020.

It expects growth at its specialty businesses for 2020. However, a less dynamic global economy is expected to burden the more commoditized businesses.

At the annual shareholders' meeting on May 27, 2020, the executive and supervisory boards will be proposing a dividend of 1.15 per share euros.

On July 1, the current operating segments will be transferred into four divisions. The four divisions - Specialty Additives, Nutrition & Care, Smart Materials and Performance Materials - will have a lean and efficient setup, the company said.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT