Düsseldorf (Reuters) – The specialty chemicals group Evonik expects profits to fall in 2023 in view of high energy prices and the uncertainties surrounding the development of the global economy.
Operating earnings (adjusted Ebitda) are expected to be in a range of EUR 2.1 to 2.4 billion with sales of EUR 17 to 19 billion, Evonik announced on Thursday. “In view of the ongoing uncertainties, our forecast range is broader than in the previous year,” said CEO Christian Kullmann. In the first quarter in particular, the negative development of the second half of 2022 is likely to continue, after which the situation should improve.
In 2022, Evonik had an operating result (adjusted EBITDA) of around EUR 2.49 billion with products ranging from amino acids for animal fattening to lipids for the Biontech Corona vaccine, with sales increasing by 24 percent to EUR 18.5 billion retracted. The shareholders around the RAG-Stiftung are to receive an unchanged dividend of EUR 1.17 per share. Evonik had forecast an operating profit (adjusted Ebitda) of EUR 2.5 to 2.6 billion for 2022 and has now ended up just below the forecast.
Kullmann wants to focus the group on high-margin specialty chemicals. To this end, Evonik is investing in growth businesses and intends to divest areas that no longer fit into the portfolio. “Handing over our Lülsdorf site to new hands will be the next step in the sale of our Performance Materials division’s businesses,” announced Kullmann. “Negotiations on this are at an advanced stage.”
(Report by Matthias Inverardi, edited by Myria Mildenberger. If you have any questions, please contact our editorial team at [email protected] (for politics and the economy) or [email protected] (for companies and markets).)
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