Corporate | 4 May 2016 07:00
Evonik Industries AG: A solid first quarter – Outlook for 2016 confirmed
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DGAP-News: Evonik Industries AG / Key word(s): Quarter Results
Embargoed until: May 4, 2016, 7 a.m.
May 4, 2016
Key Financial Data:
A solid first quarter-Outlook for 2016 confirmed – Adjusted net income EUR254 million – Adjusted EBITDA EUR565 million – Adjusted EBITDA margin at a very good level of 18.2 percent – Sales EUR3.1 billion
Essen
. Evonik did well in the first quarter in challenging business conditions. “Following an exceptionally strong performance in 2015, our earnings are now back in line with the good level of the preceding years. Our business is still doing well and our products are in demand in the market,” said Klaus Engel, Chairman of the Executive Board of Evonik Industries.
Adjusted EBITDA was EUR565 million, 13 percent lower than in the exceptionally strong prior-year period (Q1 2015: EUR650 million). The adjusted EBITDA margin remained very good at 18.2 percent, compared with 19.0 percent in the prior-year period. Adjusted EBIT fell 20 percent to EUR389 million. Adjusted net income was EUR254 million in the first quarter, down 21 percent from EUR320 million in the first quarter of 2015. Net income declined 6 percent to EUR240 million (Q1 2015: EUR256 million). Capital expenditures for property, plant and equipment were EUR160 million in the first quarter of 2016, 15 percent below the prior-year level of EUR189 million. In the first quarter of 2016, the free cash flow was EUR161 million, compared with EUR179 million in the prior-year period. Outlook confirmed Evonik’s expectations for global economic conditions are unchanged: Overall the company anticipates slightly lower momentum in the global economy, with a year-on-year growth rate of 2.5 percent in 2016. In these conditions, Evonik is confirming its outlook for the full year: Following a very successful year in 2015, the company expects to report slightly lower sales in 2016 and adjusted EBITDA of between EUR2.0 billion and EUR2.2 billion. Segment performance In the first quarter of 2016, the Nutrition & Care segment’s sales fell 15 percent to EUR1,047 million. Alongside lower volumes, the main reason for this was the decline in world market prices. Adjusted EBITDA was EUR293 million, which was below the very high prior-year level of EUR353 million. The adjusted EBITDA margin remains at an excellent level of 28.0 percent. Driven by good global demand, the Resource Efficiency segment registered pleasing volume growth, but selling prices declined slightly overall. Sales were virtually unchanged year-on-year at EUR1,120 million. Adjusted EBITDA improved 5 percent to EUR256 million. The adjusted EBITDA margin increased from 21.7 percent to a very good level of 22.9 percent.
Sales
declined 9 percent to EUR772 million in the
Performance Materials
segment. This was due to the continued decline in raw material prices, which led to a further reduction in selling prices. By contrast, volumes increased substantially.
Adjusted EBITDA
was 11 percent lower at EUR64 million. The adjusted EBITDA margin was 8.3 percent, down slightly from 8.5 percent in the first quarter of 2015.
Prior-year figures restated
Segment performance
Prior-year figures restated
Company information
Evonik is active in over 100 countries around the world. In fiscal 2015 more than 33,500 employees generated sales of around EUR13.5 billion and an operating profit (adjusted EBITDA) of about EUR2.47 billion.
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2016-05-04 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| 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: | investor-relations@evonik.com | |
| Internet: | www.evonik.com | |
| ISIN: | DE000EVNK013, XS0911405784 | |
| WKN: | EVNK01, A1TM7T | |
| Indices: | MDAX | |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart; Terminbörse EUREX; Luxemburg | |
| End of News | DGAP News Service |