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Evonik Industries Q2 Profit Halves On Weak Demand; Confirms FY20 Outlook - Quick Facts

Specialty chemicals company Evonik Industries AG (EVK.DE) reported Tuesday that its second-quarter net income halved to 114 million euros from last year's 228 million euros.

Adjusted net income was 160 million euros, compared to 227 million euros a year ago. Adjusted earnings per share declined to 0.34 euro from 0.49 euro last year.

Adjusted EBITDA fell 19 percent from last year to 456 million euros.

Sales declined 14 percent to 2.83 billion euros from 3.31 billion euros in the prior year. Sales and earnings in the second quarter decreased due to significantly weaker demand in some markets.

Looking ahead for fiscal 2020, the company continues to expect sales of between 11.5 billion euros and 13.0 billion euros, and adjusted EBITDA of between 1.7 billion euros and 2.1 billion euros.

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