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Investing.com -- Evonik Industries reported a 22% decline in third-quarter adjusted EBITDA to 448 million euros, reflecting weak demand in a difficult market environment. The result, however, came in slightly ahead of analysts’ expectations of 440 million euros, according to Vara Research.
“The anticipated recovery in September failed to materialize,” CEO Christian Kullmann said. “In the short term, this is painful. But longer term, it does not throw us off course.”
The German chemicals producer kept its full-year 2025 outlook unchanged, reaffirming guidance for EBITDA of around 1.9 billion euros, in line with the 1.88 billion euro market consensus.
It also maintained its forecast for revenue between 14 billion and 15 billion euros and a free cash flow conversion rate of 30–40%.
Evonik did not provide a detailed outlook for the fourth quarter, breaking from its usual practice.
According to brokerage firm Jefferies, Evonik’s full-year guidance implies fourth-quarter EBITDA of 383 million euros, compared to Vara Research consensus of 370 million euros.
“Our revised targets for this year are achievable, and we are focused on the long-term, successful implementation of our programs to grow revenues and cut costs,” interim CFO Claus Rettig said.
Evonik’s adjusted net income in the quarter fell to 128 million euros from 271 million euros a year earlier, while revenue declined 12% to 3.39 billion euros.