Evonik reports higher earnings on lower sales; positive on 2012

Evonik Industries today reported a 5% increase in third-quarter net income to €355 million ($452.7 million) on 6% lower sales of €3.42 billion, partly due to the July 2011 divestment of the company’s carbon black business. Organic sales declined 2% year-on-year, with volumes down slightly. Selling prices were stable. Adjusted Ebitda slipped 2% to €731 million while adjusted Ebitda margin was 21.4%, compared with 20.6% in the third quarter of 2011.   “Evonik is still doing well, even in the difficult conditions,” says Klaus...

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