Evonik Posts Record for H1     

The Evonik Group's sales contracted by 21% to Euro 6 281 million in the first six months of this year (H1 2008: Euro 7 933 million).
    Overall, demand picked up slightly in the Chemicals Business Area in the second quarter, following a weak start to the year. A perceptible upturn in demand was registered in some industries and regions, for example, the Greater China Region. From January to June, Evonik Greater China achieved sales of Euro 399 million in the region, 4% lower than the same period last year. But in the second quarter, the business significantly recovered and the sales is 6% above the same period of last year.
    Funding for its strategic projects was not affected by the more restrictive investment plans in the wake of the economic crisis. The most important investments are Walsum 10, Europe's most advanced power plant fueled by hard coal and the construction of an integrated production facility for methacrylates and their derivatives in Shanghai, China. The group says.
    Evonik still anticipates that sales and earnings will be considerably lower in 2009 than in 2008 as a result of the ongoing economic crisis and the associated reduction in volumes.