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Evonik Industries AG
Earnings Release • Jul 17, 2018
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Earnings Release
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Ad-hoc | 17 July 2018 10:32
Evonik Industries AG: Evonik publishes preliminary figures for the second quarter of 2018 and increases its outlook for 2018
Evonik Industries AG / Key word(s): Quarter Results/Change in Forecast
Evonik Industries AG: Evonik publishes preliminary figures for the second quarter of 2018 and increases its outlook for 2018
17-Jul-2018 / 10:32 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Essen, July 17, 2018. Evonik Industries AG publishes preliminary figures for the second quarter of 2018. Evonik generated an adjusted EBITDA* of EUR742 million (2017: EUR640 million) and an adjusted EBITDA margin* of 19.2 percent (2017: 17.7 percent) in the second quarter of 2018. Adjusted net income* was EUR354 million, which corresponds to earnings per share* of EUR0.76. The adjusted EBITDA* and adjusted earnings per share* are significantly above current market expectations (analyst consensus dated July 13, 2018: EUR691 million, EUR0.70 per share). Based on preliminary figures, sales increased to EUR3.9 billion (2017: EUR3.6 billion). In contrast to prior-year (H1 2017: -EUR135 million), free cash flow improved and was positive in the first half of 2018.
Based on its excellent performance in the first half of the year, Evonik has increased its forecast for the full year 2018 and is now expecting an adjusted EBITDA* between EUR2.6 and EUR2.65 billion. The company had previously projected an adjusted EBITDA* between EUR2.4 and EUR2.6 billion.
Evonik projects a notably higher free cash flow* for 2018 compared to prior year. The company had so far forecast a slightly higher free cash flow*.
All three chemical segments contributed to this significant increase with excellent operational business development. In addition to the continuing strong demand in our growth engines, strong quarterly earnings figures are showing the first signs of success from cost reduction program in administration and sales.
Evonik will be publishing its half year financial report for the first half of 2018 on August 2, 2018.
*Notes on key performance indicators (KPIs) can be found in the Financial Report 2017 of Evonik Industries AG on page 174. The Financial Report 2017 is available at: http://corporate.evonik.com/en/investor-relations/reports/quarterly-reports/q4-2017/ .
Contact/person making the notification:
Tim Lange
Head of Investor Relations
+49 201 177-3150
17-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Evonik Industries AG |
| Rellinghauser Straße 1-11 | |
| 45128 Essen | |
| Germany | |
| Phone: | +49 (0) 201 177-01 |
| Fax: | +49 (0) 201 177-3475 |
| E-mail: | [email protected] |
| Internet: | www.evonik.com |
| ISIN: | DE000EVNK013 |
| WKN: | EVNK01 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange, , |
| End of Announcement | DGAP News Service |