ESSEN (dpa-AFX) - The chemical company Evonik does not expect a quick recovery after a difficult year in 2023. "We must not delude ourselves, even if there are slight signs of recovery: What we are currently experiencing is not an economic fluctuation, but a massive, consistent change in our economic environment," said Group CEO Christian Kullmann on Monday at the presentation of business figures. With expected sales of 15 to 17 billion euros, he is aiming for earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects of 1.7 to 2.0 billion euros in 2024. This would be at least a slight improvement in operating profit. The median analyst estimates are within the ranges.

In 2023, Evonik suffered a 17 percent decline in sales to just under €15.3 billion and a one-third drop in operating profit to €1.66 billion. The bottom line is a loss of €465 million - after a surplus of €540 million in the previous year. The loss is also the result of impairment losses for parts of the business./mis/stk