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Evonik releases 2019 third quarter report, confirms full-year profit forecast

 Last Update: 2022-08-18
 Source: Internet
 Author: User

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• Adjusted EBITDA at least in line with last year

• Confirmation of full-year free cash flow forecast: approximately EUR 700 million

• Third-quarter sales and operating income were slightly lower than a year earlier

• Implement stricter cost controls to safeguard profitability

Evonik affirmed its full-year profit forecast despite continued weakness in the global econo.

"Earlier, we took stricter cost control and additional emergency measures to deal with the impact of the global economic downturn," said Evonik Chairman Cullm.

The cost reduction and efficiency increase plan launched by the company in 2018 has been further implement.

Evonik confirmed its full-year free cash flow forecast of around 700 million euros, a significant increase compared to last ye.

The global economic slowdown also affected Evonik's third-quarter resul.

Business segment performance

Resource Efficiency: Sales fell 1 percent to 4 billion eur.

Resource efficiency business segment:

Nutrition and Consumer Chemicals : Sales fell 2 percent to 14 billion eur.

Nutrition and Consumer Chemicals business segment

Functional Materials : Sales were down 20 percent year-on-year to EUR 475 milli.

Functional Materials Business Sector

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