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Evonik: Ebitda falls 24% on organic sales growth of 1%; reiterates outlook for 2014

7:45 AM MDT | May 7, 2014 | Michael Ravenscroft

Evonik says it achieved sales of €320 billion ($4.45 billion) in first-quarter 2014, close to the prior-period level of €3.21 billion, a slight organic sales growth of 1% year-on- year. Higher volumes (5 percentage points) countered the drop in selling prices (4 percentage points), and adverse currency effects clipped sales by 1 percentage point, according to Evonik. Adjusted Ebitda slipped to €463 million, compared with €606 million in the year-ago quarter, or 24% YOY, falling short of the very good level in the prior-period, according to...

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