Evonik tops Q2 earnings estimates as Middle East conflict boosts demand

Evonik Industries AG

04/08/2026 06:00

Aug 4 (Reuters) - German chemicals group Evonik Industries EVKn.DE on Tuesday reported second-quarter core profit above market estimates, as the conflict in the Middle East triggered supply chain bottlenecks mainly outside Europe, providing a demand boost for suppliers closer to clients.
Evonik's adjusted earnings before interest, taxes, depreciation and amortization were €630 million ($725 million), above analysts' average estimate of €621 million in a Vara Research poll, and at the mid-point of the range the company had pre-released in June.
The chemicals group's quarterly sales rose to €3.89 billion, also exceeding the consensus of €3.74 billion.
"We are witnessing a warm summer rain," CEO Christian Kullmann said in a statement, while cautioning that the improvement does not alter the industry's underlying challenges.
To address those challenges, Evonik is continuing its cost-cutting programme, which it expanded in June, targeting the reduction of 3,200 jobs worldwide by 2029.
Since the start of 2026, the company's workforce has been reduced by almost 700 employees, it added.
The Essen-based company confirmed the 2026 core profit targets it last raised in June.
($1 = €0.8690)

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