Evonik misses estimates in fourth quarter, hits full-year targets...

摘要

Evonik Industries reports fourth-quarter net profit of €73 million ($88 million), down 54% from the corresponding period of the previous year, on a 2% decline in sales, to €3.2 billion. The fall in net profit reflects the inclusion in the prior-year period of proceeds from the sale of the company’s methacrylates business. Weaker demand, caused by COVID-19, drove down sales. Evonik’s fourth-quarter adjusted EBITDA decreased 17% year on year (YOY) to €418 million, 4.3% below analysts’ consensus estimate, on a €15-million adjusted EBITDA loss at the company’s services operation, which swung from positive adjusted EBITDA of €24 million in the year-earlier period. Services’ external sales declined 15% YOY to €188 million in the quarter on lower revenue from process technology and engineering.