Evonik on Target after the First Half of 2017

Evonik grew sales to Euro 7.3 billion in the first six months of 2017. The rise of 15% compared with the first half of 2016 was partly due to the first-time consolidation of the specialty additives business of the US company Air Products. Evonik acquired this business in January. Other reasons for the increase in sales were the significant rise in demand and slightly higher selling prices.
“Our business development is on target,” said Christian Kullmann, Chairman of the Executive Board. “Moreover, we are reaping the first benefits of the biggest acquisition in our history.”
Adjusted EBITDA rose 8% to Euro 1.25 billion in the first six months, driven principally by better results in the Resource Efficiency and Performance Materials segments.
Net income slipped 3% to Euro 394 million, principally as a result of one-time expenses in connection with the acquisition of the Air Products specialty additives business.
Integration of these units, which were acquired at the start of the year, is proceeding smoothly and successfully. Good progress is also being made with the acquisition of the silica business of US company J.M. Huber. Evonik expects to close this transaction as planned in the second half of 2017.
Evonik confirmed its forecast to increase both sales and operating profit for the full year 2017. Adjusted EBITDA is still expected to grow to between Euro 2.2 billion and Euro 2.4 billion (2016: Euro 2.165 billion).