Evonik Q3 core profit misses estimates, sees earnings at upper end of guidance

Evonik Industries AG

Tue 05:45

Nov 3 (Reuters) - German chemicals group Evonik EVKn.DE posted third-quarter core profit slightly below analyst estimates on Tuesday, but said it expects full-year profitability to come in at the upper end of its guidance range despite weak economic growth and geopolitical tensions.
Evonik's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 40% year-on-year to €629 million ($703.85 million), but came in just below the €633.2 million analyst consensus compiled by Vara Research.
The Essen-based company maintained its 2026 outlook for adjusted EBITDA of €2.0 billion to €2.2 billion, raised in June, and said results are likely to come in at the upper end of the range. It also expects fourth-quarter earnings to exceed last year's level.
"We are even more optimistic about our outlook. Dragons fly highest in headwinds," interim CEO Claus Rettig, who is leading Evonik on a temporary basis after CEO Christian Kullmann stepped down in August due to illness, said in a statement.

($1 = 0.8937 euros)

 (Reporting by Anastasiia Kozlova and Matthias Inverardi; editing by Matt Scuffham)
 ((Anastasiia.Kozlova@thomsonreuters.com;))