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Evonik Q4 Profit Drops - Quick Facts

Specialty chemicals company Evonik (EVK.DE) reported that its fourth-quarter net income dropped to 73 million euros from 160 million euros in the prior year.

Adjusted net income was 114 million euros, down from 231 million euros in the previous year.

Quarterly sales also declined to 3.21 billion euros from 3.28 billion euros in the previous year.

The company expects adjusted EBITDA of at least 550 million euros in the first quarter of this year.

For 2021, Evonik expects adjusted EBITDA to rise to between 2.0 billion euros and 2.3 billion In the first quarter of this year. It expects annual sales to be between 12 billion euros and 14 billion euros.

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