Evonik reports lower sales and earnings; shareholders place more shares ahead of listing

Evonik Industries today reported a 6% drop in fourth-quarter Ebitda, to €492 million ($641.7 million) on 2% lower sales, of €3.27 billion, citing destocking by customers and the economic slowdown. Net income, because of tax effects, at €276 million, was 86% higher than in the year-earlier period. For the full-year, the company reported a 6% drop in sales, to €13.6 billion, mainly due to the divestment of the carbon black business. Adjusted full-year Ebitda was also 6% down, at €2.59 billion, but net income rose 15%, to €1.01 billion...

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