Corporate | 2 March 2017 07:00
Evonik Industries AG: A good performance in 2016 – Acquisitions strengthen growth segments
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DGAP-News: Evonik Industries AG / Key word(s): Final Results
A good performance in 2016
“At 17 percent, our adjusted EBITDA margin remains good,” said Klaus Engel, Chairman of the Executive Board. “The successful acquisition of the Air Products specialty additives business and the planned acquisition of Huber’s silica business provide additional growth impetus and open up further perspectives for our attractive portfolio.” At the Annual Shareholders’ Meeting on May 23, the Executive Board and Supervisory Board will be proposing a dividend of EUR1.15 per share. Based on the closing share price at year-end 2016, that gives a dividend yield of 4.1 percent, positioning Evonik among the top chemical companies. “The high free cash flow of EUR810 million enables us to make this level of payout without impairing our ambitious growth targets,” said Engel. Following an exceptionally strong performance in the previous year, the earnings situation normalized in 2016. Evonik was only partially able to compensate for the low global economic momentum, the low oil price, and the normalization of prices for animal nutrition products. Adjusted EBITDA was therefore 12 percent below the previous year’s outstanding level. Adjusted net income also dropped year-on-year to EUR930 million.
Evonik’s financial position is still very sound. “The structure of our balance sheet remains healthy, even after acquiring the Air Products specialty additives business,” said CFO Ute Wolf. This is also evidenced by solid investment-grade ratings. “Capital efficiency and cash flow will continue to play a central role in the management of the company,” said Wolf.
Evonik expects the Nutrition & Care and Resource Efficiency growth segments to make a positive earnings contribution in 2017 as a result of the successful integration of the Air Products specialty additives business. In addition, the company’s strong market positions, balanced portfolio and concentration on high-growth businesses will continue to drive its performance.
Despite the increasing uncertainty inherent in the geopolitical situation and high market volatility, Evonik aims to grow revenues and operating earnings in 2017 and expects adjusted EBITDA to be between EUR2.2 billion and EUR2.4 billion.
Segment performance
Company information
Evonik is active in over 100 countries around the world with more than 35,000 employees. In fiscal 2016 the enterprise generated sales of around EUR12,7 billion and an operating profit (adjusted EBITDA) of about EUR2.165 billion.
Disclaimer
Contact: Tim Lange Head of Investor Relations Phone +49 201 177-3150 tim.lange@evonik.com
Evonik Industries AG
Supervisory Board
Registered Office is Essen
02.03.2017 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, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxemburg |
| End of News | DGAP News Service |