Evonik Reports 2016 Fiscal Results

Evonik Industries AG achieved its earnings forecast in 2016. With adjusted EBITDA of €2.165 billion, earnings were at the upper end of the range of €2.0 billion to €2.2 billion. While volumes grew by 3%, sales declined 6% to €12.7 billion as a result of lower prices.
 
“At 17%, 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.”