'Across all divisions, we were able to adjust selling prices successfully and therefore offset the increase in variable costs,' said
The main growth drivers at present are the Nutrition & Care and Performance Materials divisions. The business with essential amino acids for animal nutrition benefited from rising demand and higher selling prices. Operating world-scale production facilities in
The Performance Materials division benefited from higher demand and improved selling prices for C4 products. In the present situation, its naphtha-based price clauses act as a natural hedge against higher oil prices.
These developments are also reflected in company sales, which increased by 34 percent year-on-year to
Free cash flow amounted to
In light of lower projections for global economic growth, Evonik has reviewed its expectations for 2022 as a whole. 'We are living in a period of unusual economic uncertainty,' said Kullmann. 'Higher energy prices and considerable uncertainty about the supply of raw materials are weighing on industry and the entire economy.'
Evonik now anticipates that global growth will be 3.3 percent. 'Based on our strong start to the year and assuming there will be no further escalation in the geopolitical situation, we are confirming our outlook for the full year,' said Kullmann. The company expects to report adjusted EBITDA of between
Evonik will publish its full figures as planned on
COMPANY INFORMATION
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of
DISCLAIMER
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither
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