Evonik reported a sharp rise in third-quarter operating profit and became more confident about its 2026 outlook. The Essen-based specialty chemicals company said adjusted EBITDA increased 40% to €629 million, while revenue grew 13% to €3.8 billion.
The results were close to analysts’ expectations: a Vara survey had forecast revenue of €3.8 billion and adjusted EBITDA of €633 million. Evonik recorded a net loss of €53 million, compared with a loss of €106 million in the same period a year earlier. The company attributed the result to exceptional items and costs linked to its savings programs.
Evonik now expects adjusted EBITDA in the upper half of its previously stated range of €2 billion to €2.2 billion for 2026. Interim chief executive Claus Rettig described the company as strong and resilient. Evonik is restructuring and cutting jobs as it seeks to improve profitability.
The company said supply difficulties among Asian competitors, linked to the crisis in the Middle East, were supporting demand. Uncertainty over possible interruptions to shipping through the Strait of Hormuz has also contributed to increased demand, according to the report.
The results come as BASF pursues a potential takeover of Evonik. Evonik recently rejected an offer from the larger German rival of €24 per share. Evonik is also interested in US competitor Ashland, the report said.
Sources: Handelsblatt.