Evonik raise full-year outlook as Middle East disruption hits Asian rivals (updated)

Evonik Industries AG

26/06/2026 10:36

Adds analyst comment, background on Asian competitors, peer Brenntag
By Anastasiia Kozlova

    June 26 (Reuters) - German chemicals group Evonik Industries EVKn.DE said on Friday it raised its full-year profit outlook after posting second-quarter results that beat expectations, benefiting from Asian rivals' struggles with supply chain disruptions amid the Iran war. 
It now expects adjusted EBITDA for 2026 between €2.0 billion ($2.28 billion) and €2.2 billion, up from a previously forecast range of €1.7 billion to €2.0 billion.

     Adjusted EBITDA in the second quarter is expected to come in at between €600 million and €650 million, above a 
    Vara consensus
     for about €567 million, driven by higher volumes and prices as well as ongoing cost cuts, the company said.
  

     Evonik is benefiting from supply chain disruptions hitting Asian rivals currently constrained by the limited availability of raw materials.
  

     Brenntag BNRGn.DE echoed upbeat sentiment this week, lifting its full-year operating profit outlook on the back of strong demand and improved margins.

     Evonik's finance chief Michael Rauch said the Q2 EBITDA was a good result in times like these. "However, we must bear in mind that part of this profit is due to one-off factors that are not sustainable."
  

     The company said in its statement that the tailwind is expected to fade as global shipping normalises after the reopening of the Strait of Hormuz, adding that uncertainties would persist for the second half of the year.
  

     VCI, the German chemical sector's trade group, had already warned that global competition, particularly from Asia, is expected to increase significantly again.
  

     For years, European producers have struggled with high energy costs, weak demand and intense price competition from Asian peers. Only recently, the continent's industry has seen an 
    unexpected lift
     from the Iran war.
  
($1 = 0.8773 euros)

(Reporting by Anastasiia Kozlova, additional reporting by Matthias Inverardi, editing by Friederike Heine and Chizu Nomiyama )
((Anastasiia.Kozlova@thomsonreuters.com;))