Evonik Industries AG Releases Preliminary Q2 2024 Figures, Adjusts 2024 Outlook

Evonik Industries AG has released its preliminary figures for the second quarter of 2024 and adjusted its financial outlook. The company now expects an adjusted EBITDA of €578 million for Q2 2024, up from €450 million in the same quarter last year. This exceeds the market expectation of €531 million.

The positive development is attributed to company-specific factors such as strict cost discipline, good volume development in Specialty Additives, price recovery in Animal Nutrition, and lower production costs. Consequently, Evonik has raised its full-year 2024 adjusted EBITDA outlook to a range of €1.9 billion to €2.2 billion, up from the previous €1.7 billion to €2.0 billion.

Sales for the second quarter of 2024 were just above €3.9 billion, maintaining the level of the previous year. Evonik plans to release the final figures for the second quarter on August 1, 2024.