Evonik Industries AG

Quarterly Report • May 8, 2024

QUARTERLY STATEMENT

1st quarter

FIRST QUARTER BETTER THAN EXPECTED— FORECAST CONFIRMED

1st quarter

• Sales volumes increased for the first time in two years
• Adjusted EBITDA grew 28 percent to €522 million
• Adjusted net income 71 percent above the prior-year level at €197 million
• Free cash flow rose from €21 million to €127 million
• Outlook for 2024 confirmed: Adjusted EBITDA expected to be between €1.7 billion and €2.0 billion

Key figures for the Evonik Group

		1st quarter
in € million	2023	2024
Sales	4,005	3,796
Adjusted EBITDAa	409	522
Adjusted EBITDA margin in %	10.2	13.8
Adjusted EBITb	130	266
Income before financial result and income taxes, continuing operations (EBIT)	83	252
Net income	47	156
Adjusted net income	115	197
Earnings per share in €	0.10	0.33
Adjusted earnings per share in €	0.25	0.42
Cash flow from operating activities, continuing operations	227	378
Cash outflows for investments in intangible assets, property, plant and equipment	-206	-251
Free cash flowc	21	127
Net financial debt as of March 31	-3,258	-3,212
No. of employees as of March 31	33,918	33,090

a Earnings before financial result, taxes, depreciation, and amortization, after adjustments, continuing operations. b

Due to rounding, some figures in this report may not add up exactly to the totals stated.

Earnings before financial result and taxes, after adjustments, continuing operations. c

Cash flow from operating activities, continuing operations, less cash outflows for investments in intangible assets, property, plant and equipment.

CONTENTS

Business conditions and performance	2
Business performance	2
Performance of the divisions	4
Financial position	11
Expected development	12
Income statement	15
Balance sheet	16
Cash flow statement	17
Segment report	18
Appendix	20
Financial calendar	21
Credits	21

a By location of customer.

Sales by regiona—1st quarter

Business conditions and performance

Business performance

Business performance in Q1 2024

The start of 2024 was better than Evonik had expected. We registered a year-on-year increase in volumes for the first time following declines in the previous seven quarters. Alongside a slight upturn in demand, this was partly due to restocking by our customers to replenish low inventory levels. However, there is no sign of a broadly based recovery at present. Adjusted EBITDA improved compared with the previous quarters and was significantly higher than in the prior-year quarter. This was supported by the contingency measures we introduced in the second half of 2022 in response to the unsatisfactory earnings trend.

Sales by quarter

The Evonik Group's sales fell 5 percent year-on-year to €3,796 million in the first quarter of 2024. We registered an organic decline in sales of 1 percent as the increase in volumes was negated by a reduction in selling prices, mainly because lower raw material costs were passed on to customers. Other factors were slightly negative currency effects, the divestment of the Lülsdorf site as of June 30, 2023, and other effects, especially from trading in natural gas and electricity, which is conducted by the Technology & Infrastructure division to supply energy to external customers.

Year-on-year change in sales

in %	1st quarter 2024
Volumes	4
Prices	-5
Organic change in sales	-1
Exchange rates	-1
Change in the scope of consolidation/other effects	-3
Total	-5

Adjusted EBITDA rose 28 percent year-on-year to €522 million in the first quarter. This was mainly attributable to higher volumes, lower raw material costs, and cost savings. The adjusted EBITDA margin increased from 10.2 percent in the prioryear period to 13.8 percent.

0 100 200 300 400 500 600

312

Statement of income

2024 2023

	1st quarter
in € million	2023	2024	Change in %
Sales	4,005	3,796	-5
Adjusted EBITDA	409	522	28
Adjusted depreciation, amortization, and impairment losses	-279	-256
Adjusted EBIT	130	266	105
Adjustments	-47	-14
thereof restructuring measures	-35	-2
thereof acquisitions and divestments	-7	-11
thereof other special items	-5	-1
Income before financial result and income taxes, continuing operations (EBIT)	83	252	204
Financial result	-14	-33
Income before income taxes, continuing operations	69	219	217
Income taxes	-20	-59
Income after taxes	49	160
thereof income attributable to non-controlling interests	2	4
Net income	47	156	232
Earnings per share in €	0.10	0.33

Prior-year figures restated.

The adjustments of -€14 million mainly contained expenses in connection with the sale of the Superabsorbents business, which was signed in March 2024. The prior-year figure of -€47 million mainly related to structural measures in connection with the sale of the Lülsdorf site in 2023 and the planned divestment of Performance Intermediates. The financial result was -€33 million, which was below the prior-year level, mainly as a result of lower interest income. Income before income taxes, continuing operations improved from €69 million in the prior-year period to €219 million, driven by the upturn in business performance. Income taxes therefore increased to €59 million. Net income rose by €109 million to €156 million.

After adjustment for special items, adjusted net income improved by 71 percent to €197 million. Adjusted earnings per share increased from €0.25 to €0.42.

Reconciliation to adjusted net income

		1st quarter
in € million	2023	2024	Change in %
Adjusted EBITDA	409	522	28
Adjusted depreciation, amortization, and impairment losses	-279	-256
Adjusted EBIT	130	266	105
Adjusted financial result	-12	-33
Adjusted amortization and impairment losses on intangible assets	41	35
Adjusted income before income taxesa	159	268	69
Adjusted income taxes	-42	-67
Adjusted income after taxesa	117	201	72
thereof adjusted income attributable to non-controlling interests	2	4
Adjusted net incomea	115	197	71
Adjusted earnings per share in €a	0.25	0.42

a Continuing operations.

Performance of the divisions

Specialty Additives

Key figures

		1st quarter
in € million	2023	2024	Change in %
External sales	921	908	-1
Adjusted EBITDA	168	185	10
Adjusted EBITDA margin in %	18.2	20.4	–
Adjusted EBIT	121	139	15
Capital expendituresa	26	23	-12
No. of employees as of March 31	3,556	3,451	-3

a Capital expenditures for intangible assets, property, plant and equipment.

The Specialty Additives division posted higher volumes, partly due to restocking by our customers to replenish low inventory levels. Overall, sales in the first quarter of 2024 were slightly below the prior-year level at €908 million. This resulted from a reduction in prices, mainly because lower raw material costs were passed on to customers, as well as slightly negative currency effects.

Products for the construction and coatings industries posted higher volumes and a considerable rise in sales. Volumes of additives for polyurethane foams and consumer durables also picked up, but sales were almost unchanged as selling prices declined. Demand for additives for automotive applications increased, and sales were also around the prior-year level.

Adjusted EBITDA rose 10 percent to €185 million, driven primarily by higher volumes and the resulting increase in capacity utilization at production plants. The adjusted EBITDA margin improved from 18.2 percent in the prior-year period to 20.4 percent.

Adjusted EBITDA Specialty Additives

Sales Specialty Additives

Nutrition & Care

Key figures

		1st quarter
in € million	2023	2024	Change in %
External sales	886	900	2
Adjusted EBITDA	76	140	84
Adjusted EBITDA margin in %	8.6	15.6	–
Adjusted EBIT	13	88	577
Capital expendituresa	59	63	7
No. of employees as of March 31	5,745	5,560	-3

a Capital expenditures for intangible assets, property, plant and equipment.

In the Nutrition & Care division, sales increased by 2 percent to €900 million in the first quarter of 2024. This was due to a rise in demand and slightly higher selling prices, while negative currency effects had a countereffect.

The essential amino acids business (Animal Nutrition) benefited from higher volumes and a slight increase in prices; sales grew considerably. In the Health & Care business, we registered a pleasing volume development for care solutions products. Overall, however, sales in the Health & Care business were below the prior-year level as a result of a slight drop in selling prices.

Sales Nutrition & Care

Adjusted EBITDA improved 84 percent year-on-year to €140 million. This was mainly attributable to higher volumes, lower variable costs, and cost savings resulting from the optimization of the business model for Animal Nutrition. The adjusted EBITDA margin rose significantly, from 8.6 percent in the prior-year period to 15.6 percent.

Adjusted EBITDA Nutrition & Care

Smart Materials

Key figures

		1st quarter
in € million	2023	2024	Change in %
External sales	1,188	1,093	-8
Adjusted EBITDA	164	159	-3
Adjusted EBITDA margin in %	13.8	14.5	–
Adjusted EBIT	79	75	-5
Capital expendituresa	46	37	-20
No. of employees as of March 31	8,095	8,126	–

a Capital expenditures for intangible assets, property, plant and equipment.

In the Smart Materials division, sales decreased by 8 percent to €1,093 million in the first quarter of 2024. Since volumes were almost unchanged, the reduction was mainly caused by the reduction in selling prices as lower raw material and energy costs were passed on to customers.

Sales of inorganic products decreased. This was due to a further reduction in demand and lower selling prices as a result of lower raw material costs. There was also a price- and currency-driven drop in sales in the Polymers business.

Adjusted EBITDA was only slightly below the prior-year level at €159 million. This was partly due to the sale of a license for the hydrogen peroxide production process. The adjusted EBITDA margin increased from 13.8 percent in the prior-year period to 14.5 percent.

Adjusted EBITDA Smart Materials

Performance Materials

Key figures

		1st quarter
in € million	2023	2024	Change in %
External sales	707	646	-9
Adjusted EBITDA	37	43	16
Adjusted EBITDA margin in %	5.2	6.7	–
Adjusted EBIT	8	22	175
Capital expendituresa	11	6	-45
No. of employees as of March 31	2,240	1,739	-22

a Capital expenditures for intangible assets, property, plant and equipment.

In the Performance Materials division, sales dropped 9 percent to €646 million in the first quarter of 2024. The positive volume effects were more than canceled out by lower prices and negative currency effects. Moreover, the prior-year figure still contained sales from the Lülsdorf site, which was sold as of June 30, 2023.

The business with C4 products (Performance Intermediates) generated higher sales than in the prior-year period as a result of increased demand, although selling prices decreased. The Superabsorbents business benefited from higher volumes.

Sales Performance Materials

Adjusted EBITDA increased by 16 percent to €43 million, mainly because of higher volumes. The adjusted EBITDA margin rose from 5.2 percent in the prior-year period to 6.7 percent.

Adjusted EBITDA Performance Materials

Technology & Infrastructure

Key figures

		1st quarter
in € million	2023	2024	Change in %
External sales	292	238	-18
Adjusted EBITDA	34	73	115
Adjusted EBITDA margin in %	11.6	30.7	–
Adjusted EBIT	-1	38	–
Capital expendituresa	24	17	-29
No. of employees as of March 31	8,041	8,013	–

a Capital expenditures for intangible assets, property, plant and equipment.

Sales in the Technology & Infrastructure division dropped 18 percent to €238 million in the first quarter of 2024. This was attributable to lower sales from natural gas and electricity supplied to external customers at our sites. Adjusted EBITDA improved from €34 million to €73 million, with higher earnings contributions coming from logistics and energy supply services. The adjusted EBITDA margin rose from 11.6 percent to 30.7 percent.

Financial position

Compared with the first three months of 2023, the cash flow from operating activities, continuing operations increased by €151 million to €378 million. This was primarily because business developed better than in the prior-year quarter. The free cash flow increased by €106 million to €127 million.

Cash flow statement (excerpt)

		1st quarter
in € million	2023	2024
Cash flow from operating activities, continuing operations	227	378
Cash outflows for investments in intangible assets, property, plant and equipment	-206	-251
Free cash flow	21	127
Cash flow from other investing activities, continuing operations	39	-1
Cash flow from financing activities, continuing operations	-68	-85
Change in cash and cash equivalents	-8	41

The cash flow from financing activities mainly comprised the repayment of financial debt.

Net financial debt was €3,212 million, a decrease of €98 million compared with December 31, 2023. This was mainly due to the positive free cash flow.

Net financial debt

in € million	Dec. 31, 2023	Mar. 31, 2024
Non-current financial liabilitiesa	-3,320	-3,302
Current financial liabilitiesa	-1,006	-979
Financial debt	-4,326	-4,281
Cash and cash equivalents	749	794
Current securities	261	269
Other financial investments	6	6
Financial assets	1,016	1,069
Net financial debt	-3,310	-3,212

a Excluding derivatives, excluding the liabilities for rebate and bonus agreements, and excluding customer credit liabilities.

In the first three months of 2024, capital expenditures for intangible assets, property, plant and equipment amounted to €157 million (Q1 2023: €181 million). In principle, there is a slight timing difference in cash outflows for intangible assets, property, plant and equipment. Current major projects include the construction of a production facility for pharmaceutical lipids in Lafayette (Indiana, USA) and the expansion of production capacities for SEPURAN® membranes in Austria. These facilities are scheduled to come on stream in 2025.

Expected development

Our expectations for global economic conditions in 2024 are unchanged from the beginning of this year. While the economic situation entails considerable uncertainty, we still anticipate that the global economy will grow by 2.3 percent yearon-year in 2024. Factors supporting the economy are countered by many risks, so economic conditions are likely to remain challenging in 2024.

The restrictive monetary policy is continuing to dampen investment spending and consumption. Moreover, no major economic impetus is expected to come from the anticipated interest rate cuts by the Fed and ECB in 2024. In addition, there is an ongoing risk that inflation rates could increase again. In view of the high interest rates and challenging budget conditions, no significant economic impetus is expected from fiscal policy. The low consumer confidence will probably continue to hold back demand for services and, in particular, consumer durables. An improvement is expected at the earliest in the course of the year.

At the same time, some economic stimulus effects are expected in 2024 and could lead to a recovery in the global economy, especially in the second half of the year. Inflation has peaked and is now declining, principally as a result of lower energy and commodity prices. In Europe and the USA, the core inflation rate is now falling too and is approaching the central banks' inflation target. Alongside the renewed rise in real wages, the economy could be supported by the labor market, which remains very robust.

We expect the 2024 prices of the specific raw materials used by Evonik to be slightly lower than in 2023.

Our forecast is based on the following assumptions:

• Global growth: 2.3 percent (unchanged)
• Internal raw material index: slightly below the prior-year level (start of year: unchanged from the prior year)

Sales and earnings

As expected, economic conditions remained challenging at the beginning of 2024. Although Evonik registered an upturn in demand in China, there is no sign of a broadly based reversal of the trend, with the previous year's low economic momentum continuing. Therefore, we still anticipate that sales will be between €15.0 billion and €17.0 billion (2023: €15.3 billion). Following significant price erosion in the high-volume Animal Nutrition and Performance Intermediates businesses in 2023, we expect the overall price trend to be more positive in 2024. This should be supported, above all, by a recovery in the Animal Nutrition business. By contrast, we anticipate stable or slightly lower selling prices in our specialty chemicals businesses. Following significant destocking in 2023, it was evident at the start of 2024 that our customers were restocking to replenish low inventory levels. Despite continued weak demand in our end-markets, this should support a slight recovery in our sales volumes. Overall, we still expect adjusted EBITDA to be between €1.7 billion and €2.0 billion (2023: €1,656 million). As in the past year, Evonik has a strong focus on cost discipline to support its earnings performance. In 2024, we will continue the short-term contingency measures implemented in 2023, which resulted in cost savings of €250 million. Based on our long-term hedging strategy, we anticipate that energy costs will be slightly lower than in the past year. Raw material costs are now expected to be slightly lower than in 2023.

In 2024, the Specialty Additives division will again benefit from its specific customer solutions, which are geared to improving product properties and sustainability profiles. In particular, applications for the paints and coatings industry should show the first signs of recovery after a prolonged period of destocking. Nevertheless, we do not expect to see a broadly based upturn in demand and a resulting improvement in production volumes and capacity utilization in our production plants. Furthermore, we assume that competitive intensity will remain high. Overall, we therefore still anticipate that earnings in this division will be around the prior-year level (2023: €673 million).

The expected positive development of the Nutrition & Care division will be driven primarily by a recovery in the Animal Nutrition business. We anticipate a sequential increase in amino acid prices, at least in the first two quarters, as a result of more balanced demand and supply. The market should also resume its solid long-term volume growth, as was already visible at the end of last year. The adjustment of the operating model in the Animal Nutrition business, which started in 2023, will bring further cost reductions this year. The Health & Care business will deliver the first batches of our innovative rhamnolipids (biosurfactants) from the new production plant in Slovakia to our customers. Our system solutions for active cosmetic ingredients should continue their strong, above-average and profitable growth. Overall, we still anticipate that this division's earnings will rise considerably year-on-year (2023: €389 million).

In the Smart Materials division, a slightly positive trend is expected for the Inorganics unit, driven by its environment-friendly hydrogen peroxide specialties and catalysts. Polymers will benefit above all from the new capacities for our high-performance polymers. Further, the costs incurred in 2023 for the shutdown of the PA12 facility in Marl (Germany) will not recur. Therefore, we still expect that earnings will rise slightly year-on-year, despite the persistently weak demand in our endmarkets (2023: €540 million).

In the Performance Materials division, we expect to see an improvement in prices and margins in the Performance Intermediates business (C4 derivatives) compared with the weak level in 2023. As a result, this division's earnings will be above the prior-year level (2023: €111 million).

For Technology & Infrastructure and Others1, we assume that, in all, earnings will be only slightly negative in 2024 (2023: -€57 million). Contingency measures will have a positive impact on Technology & Infrastructure and Others, but the anticipated increase in provisions for bonuses will have a negative effect on these two personnel-intensive units.

In 2024, the return on capital employed (ROCE) is expected to be significantly higher than in the previous year (2023: 3.4 percent).

¹ Enabling functions, other activities, consolidation.

Financing and investments

We will continue our extremely disciplined approach to cash outflows for investments in intangible assets, property, plant and equipment in 2024. Since demand has not yet recovered, and we therefore have unutilized capacity at present, we have budgeted capital expenditures of around €750 million. That is a further reduction compared with the previous year (2023: €793 million).

Through its disciplined approach to capital expenditures and net working capital, Evonik consistently generates a high absolute free cash flow and thus an attractive cash conversion rate. We will continue this in 2024. We still anticipate that the cash conversion rate will be close to our target of 40 percent in 2024 (2023: 48 percent; absolute free cash flow: €801 million). We expect the improved operating result, lower capital expenditures, and lower bonus payments for 2023 to make a positive contribution to free cash flow. By contrast, in view of the anticipated slight increase in sales, we do not see any further potential to optimize net working capital.

Forecast for 2024

Forecast performance indicators	2023	Current forecast for 2024a
Group sales		Between €15.0 billion
	€15.3 billion	and €17.0 billion
Adjusted EBITDA		Between €1.7 billion
	€1.7 billion	and €2.0 billion
ROCE		Significantly above the
	3.4%	prior-year level
Cash outflows for investments in intangible assets, property, plant and equipment	€793 million	Around €750 million
Free cash flow: cash conversion rateb	48%	Around 40%

As in the financial report 2023. b Ratio of free cash flow to adjusted EBITDA.

a

Income statement

in € million		1st quarter
		2024
Sales	4,005	3,796
Cost of sales	-3,143	-2,795
Gross profit on sales	862	1,001
Selling expenses	-483	-473
Research and development expenses	-113	-111
General administrative expenses	-133	-129
Other operating income	36	58
Other operating expense	-88	-96
Result from investments recognized at equity	2	2
Income before financial result and income taxes, continuing operations (EBIT)	83	252
Interest income	26	15
Interest expense	-45	-50
Other financial income/expense	5	2
Financial result	-14	-33
Income before income taxes, continuing operations	69	219
Income taxes	-20	-59
Income after taxes	49	160
thereof attributable to non-controlling interests	2	4
thereof attributable to shareholders of Evonik Industries AG (net income)	47	156
Earnings per share in € (basic and diluted)	0.10	0.33
thereof continuing operations	0.10	0.33
thereof discontinued operations	0.00	0.00

Balance sheet

in € million	Dec. 31, 2023	Mar. 31, 2024
Goodwill	4,581	4,601
Other intangible assets	944	955
Property, plant and equipment	6,294	6,320
Right-of-use assets	965	940
Investments recognized at equity	52	44
Other financial assets	460	445
Deferred taxes	642	672
Other income tax assets	20	21
Other non-financial assets	78	77
Non-current assets	14,036	14,075
Inventories	2,349	2,566
Trade accounts receivable	1,607	1,782
Other financial assets	381	371
Other income tax assets	209	189
Other non-financial assets	373	407
Cash and cash equivalents	749	794
	5,668	6,109
Assets held for sale	236	264
Current assets	5,904	6,373
Total assets	19,940	20,448
Issued capital	466	466
Capital reserve	1,168	1,171
Retained earnings	7,555	7,722
Other equity components	-279	-221
Equity attributable to shareholders of Evonik Industries AG	8,910	9,138
Equity attributable to non-controlling interests	76	78
Equity	8,986	9,216
Provisions for pensions and other post-employment benefits	1,858	1,828
Other provisions	517	520
Other financial liabilities	3,502	3,519
Deferred taxes	608	613
Other income tax liabilities	268	273
Other non-financial liabilities	153	139
Non-current liabilities Other provisions	6,906 606	6,892 681
Trade accounts payable	1,521	1,675
Other financial liabilities Other income tax liabilities	1,153 124	1,130 152
Other non-financial liabilities	457	485
	3,861	4,123
Liabilities associated with assets held for sale	187	217
Current liabilities	4,048	4,340
Total equity and liabilities	19,940	20,448

Cash flow statement

	1st quarter
in € million	2023	2024
Income before financial result and income taxes, continuing operations (EBIT)	83	252
Depreciation, amortization, impairment losses/reversal of impairment losses on non-current assets	311	265
Result from investments recognized at equity	-2	-2
Gains/losses on the disposal of non-current assets	-1	-3
Change in inventories	-300	-218
Change in trade accounts receivable	-178	-180
Change in trade accounts payable	223	261
Change in provisions for pensions and other post-employment benefits	-5	-31
Change in other provisions	92	76
Change in miscellaneous assets/liabilities	53	-28
Cash inflows from dividends	11	–
Cash outflows for income taxes	-61	-33
Cash inflows from income taxes	1	19
Cash flow from operating activities, continuing operations	227	378
Cash outflows for investments in intangible assets, property, plant and equipment	-206	-251
Cash outflows to obtain control of businesses	–	-11
Cash outflows relating to the loss of control over businesses	-4	-2
Cash outflows for investments in other shareholdings	-2	-3
Cash inflows from divestments of intangible assets, property, plant and equipment	13	16
Cash inflows relating to the loss of control over businesses	43	–
Cash inflows/outflows relating to securities, deposits, and loans	-21	-13
Cash inflows from interest	10	12
Cash flow from investing activities, continuing operations	-167	-252
Cash outflows for dividends to non-controlling interests	-1	-4
Cash outflows for the purchase of treasury shares	-16	-12
Cash inflows from the addition of financial liabilities	54	19
Cash outflows for repayment of financial liabilities	-93	-82
Cash inflows/outflows in connection with financial transactions	3	11
Cash outflows for interest	-15	-17
Cash flow from financing activities, continuing operations	-68	-85
Change in cash and cash equivalents	-8	41
Cash and cash equivalents as of January 1	645	749
Change in cash and cash equivalents	-8	41
Changes in exchange rates and other changes in cash and cash equivalents	-3	4
Cash and cash equivalents as on the balance sheet as of March 31	634	794

Segment report

Segment report by operating segments—1st quarter

		Specialty Additives		Nutrition & Care		Smart Materials
in € million	2023	2024	2023	2024	2023	2024
External sales	921	908	886	900	1,188	1,093
Internal sales	1	1	2	2	50	8
Total sales	922	909	888	902	1,238	1,101
Adjusted EBITDA	168	185	76	140	164	159
Adjusted EBITDA margin in %	18.2	20.4	8.6	15.6	13.8	14.5
Adjusted EBIT	121	139	13	88	79	75
Capital expendituresa	26	23	59	63	46	37
Financial investments	–	–	–	3	–	12
No. of employees as of March 31	3,556	3,451	5,745	5,560	8,095	8,126

a For intangible assets, property, plant and equipment.

Segment report by regions—1st quarter

	Europe, Middle East & Africa		North America
in € million	2023	2024	2023	2024
External salesa	2,077	1,862	983	893
Non-current assets in accordance with IFRS 8 as of March 31	7,492	7,041	4,288	4,210
Capital expenditures	106	75	55	60
No. of employees as of March 31	22,978	22,203	5,054	4,999

^a External sales Europe, Middle East & Africa: thereof Germany €640 million (Q1 2023: €724 million).

	Performance Materials		Technology & Infrastructure		Enabling functions, other activities, consolidation		Total Group (continuing operations)
2023	2024	2023	2024	2023	2024	2023	2024
707	646	292	238	11	11	4,005	3,796
103	69	510	484	-666	-564	–	–
810	715	802	722	-655	-553	4,005	3,796
37	43	34	73	-70	-78	409	522
5.2	6.7	11.6	30.7	–	–	10.2	13.8
8	22	-1	38	-90	-96	130	266
11	6	24	17	15	11	181	157
–	–	–	–	3	–	3	15
2,240	1,739	8,041	8,013	6,241	6,201	33,918	33,090

Central & South America			Asia-Pacific	Total Group (continuing operations)
2023	2024	2023	2024	2023	2024
202	205	743	836	4,005	3,796
140	165	1,703	1,520	13,623	12,936
1	2	19	20	181	157
744	761	5,142	5,127	33,918	33,090

Appendix

Restatement of prior-year figures

To provide a better insight into the earnings position, as of December 31, 2023, the presentation of restructuring-related income and expenses within income before financial result and income taxes was revised. A narrower definition is now applied, so impairment losses/reversal of impairment losses are no longer included in income and expenses relating to restructuring measures, even if they relate to a restructuring project. The change does not affect the total amount of the function costs or other operating income and expense. The prior-year figures have been restated. These changes correlated with the change in the definition of the adjustment categories used in the combined management report, which was also applied retrospectively as of December 31, 2023. The aim was to reduce overlaps between the categories and avoid confusion with terms used in the notes to the IFRS statements that are similar but defined differently.

Financial calendar

Financial calendar 2024

Event	Date
Annual shareholders' meeting 2024	June 4, 2024
Interim report Q2 2024	August 1, 2024
Interim report Q3 2024	November 6, 2024

Credits

Published by

Evonik Industries AG Rellinghauser Strasse 1–11 45128 Essen, Germany www.evonik.com

Contact Communications

Phone +49 201 177-3315 presse@evonik.com

Investor Relations

Phone +49 201 177-3146 investor-relations@evonik.com

The English version of this quarterly statement is a translation of the German original report and is provided for information only.