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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Late-reporting firms deliver steady third-quarter results

7:10 AM MST | November 30, 2012 | —Natasha Alperowicz and Sotirios Frantzanas

Third-quarter results posted by late-reporting European companies reflect the challenging economic conditions in the region. However, most firms managed to post increases in sales and net earnings, and maintained their full-year guidances. Evonik Industries reported a 5% increase in third-quarter net income, to €355 million ($460 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% compared with the year-earlier period, with volumes down slightly...

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