Evonik sees lower 2023 core profit

March 02, 2023 06:48 AM CET | By Reuters
Image source: Reuters

(Reuters) - German chemicals group Evonik Industries on Thursday forecast 2023 core profit below last year's level, as animal nutrition prices decline and negative effects of high inflation, fluctuating energy prices and the war in Ukraine persist.

The company, whose products are used in items from animal feed and diapers to Pfizer/BioNTech's COVID-19 vaccine, expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 2.1 billion to 2.4 billion euros ($2.23 billion to $2.55 billion) this year.

This compares to 2.49 billion euros it reported for 2022, which was slightly below analysts' forecast of 2.53 billion euros in a company-provided poll.

($1 = 0.9397 euros)

(Reporting by Antonis Pothitos and Tristan Chabba in Gdansk; Editing by Milla Nissi)


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