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Evonik reports weaker results, cites challenging market conditions

9:12 AM MDT | August 1, 2013 | Michael Ravenscroft

Evonik Industries says its adjusted Ebitda in the second quarter plunged by 23%, to €489 million, compared with €632 million a year ago. Net income decreased by 28% in second-quarter 2013, to €191 million, compared with €264 million for the prior-year period. Sales fell by 5%, to €3.26 billion, for second-quarter 2013 versus €3.43 billion a year ago. Market conditions in the second quarter were far tougher than expected, Evonik says. Volume trends were still good, but there was a perceptible decline in prices, the company adds...

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