Evonik announced third-quarter results on Nov. 3, with sales up 13% year on year to about €3.8 billion, the strongest quarterly gain since Q3 2022. Higher selling prices contributed about 10 percentage points of the increase, while sales volumes rose 2%.
Adjusted EBITDA increased 40% year on year to €629 million. The result was broadly in line with analyst expectations of about €3.8 billion in sales and €633 million in adjusted EBITDA.
Special items and costs related to the company's cost-cutting programme led to a net loss of €53 million, compared with a loss of €106 million a year earlier. Evonik has said the extended savings programme will run in a second phase from 2027 to 2029, with about 3,200 job cuts, roughly two thirds of them in Germany.
Evonik said it now expects full-year adjusted operating profit in the upper half of its €2.0 billion to €2.2 billion guidance range. Rettig said the company's strategic positioning is paying off and that it is even more optimistic about the outlook.
The company also commissioned a new specialty silicones plant and tank farm at its Essen-Goldschmidtstrasse site, costing about €52 million, to expand capacity and shorten transport routes. Evonik plans to sell its Oxeno C4 business and has begun preparations to sell Syneqt, the operator of the Marl and Wesseling chemical parks.
