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Evonik posts lower earnings, maintains 2013 forecast

9:16 AM MDT | October 31, 2013 | Rebecca Coons

Evonik Industries reports third-quarter adjusted net income of €210 million ($285.9 million), 38% lower year-over-year (YOY). The company cites weak methacrylates demand, the negative impact of scheduled maintenance at its Marl facility, and lower amino acid volumes. Net sales fell 4% YOY, to €3.2 billion. Adjusted Ebitda fell 26% YOY, to €518 million. Net income increased by a factor of 4, to €1.47 billion, due to the proceeds from the company's recent sale of its real estate business. “Global economic conditions remained difficult in...

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