Evonik says fiscal 2013 'solid'

ERJ staff report (TP)

Essen, Germany – Evonik Industries released its key financial data last week and described 2013 as “a successful year” with “a solid operating performance in difficult market conditions”.

Klaus Engel, Chairman of the Executive Board, said: "We have achieved our strategic objectives: Evonik is now a publicly listed specialty chemicals company.

The firm said the general economic background was tougher than anticipated in 2013. While volumes increased, lower selling prices, in particular, led to a drop in Evonik's operating results.

Engel added: "We will be raising the efficiency of our operational and administrative areas still further and systematically improving our cost position. That will support our competitiveness and our profitable growth strategy.”

Summary of operating performance in 2013:

Group sales €12.9bn; virtually stable organic sales trend

Adjusted EBITDA €2bn; reduction from very high prior-year figure mainly price-induced

Adjusted EBITDA margin of 15.6 percent

Net income rose 76 percent to €2.1bn thanks to divestment gains from real estate activities

Capital expenditures increased 18 percent to €1.1bn

R&D expenses at €394m – R&D ratio 3.1 percent

Dividend proposal for 2013: €1.00 per share (2012: €0.92)

Outlook for 2014:

Sales expected to rise slightly (2013: €12.9bn); adjusted EBITDA expected to be between €1.8 and €2.1bn (2013: €2.0 billion)

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More details in the press release from Evonik