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Evonik Industries reports lower earnings, confirms outlook

1:24 AM MDT | July 31, 2014 | Natasha Alperowicz

Evonik Industries today reported second-quarter net income of €139 million ($186.2 million), down 28% on the year-earlier period. Sales were 1% higher at €3.25 billion. Evonik posted organic sales growth of 3%, driven by a considerable rise in volumes, which was countered by slight erosion of selling prices. Currency effects clipped sales by 2 percentage points. Adjusted Ebitda declined 7% to €473 million, mainly due to lower prices for some important products, the company says. Ebitda margin slipped from 15.9% to 14.6%.     Evonik says...

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