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Evonik Announces 2Q 2020 Results

Outlook for 2020 confirmed: adjusted EBITDA between €1.7 billion and €2.1 billion.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

Against the backdrop of the worldwide recession triggered by the Corona pandemic, Evonik is getting through the crisis well. Nevertheless, sales and earnings in the second quarter decreased compared to the previous year due to significantly weaker demand in some markets. Company sales fell by 14% to €2.83 billion, while adjusted earnings before interest, tax, depreciation and amortization (EBITDA) fell 19% to €456 million. “Evonik is weathering the crisis,” said Christian Kullmann, ...

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