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Adjusted EBITDA in second quarter falls 38% to €450 million year-over-year.
August 11, 2023
By: DAVID SAVASTANO
Editor, Ink World Magazine
Evonik posted adjusted EBITDA of €450 million in the second quarter of 2023, a slight improvement compared with the first quarter (€409 million). Earnings were buoyed by strict cost-cutting measures. Compared with the same period last year, adjusted EBITDA fell by 38%. Evonik already published preliminary figures for the second quarter on July 10. “Germany is in a recession, Europe as well, and the economy in China is not picking up as we had hoped,” said Christian Kullmann, chair...
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