DGAP-News

Evonik Industries AG: Evonik specifies outlook for 2016 following a good second quarter - Seite 3

Business continued to develop pleasingly in the Resource Efficiency segment
in the second quarter: Sales rose 4 percent to EUR1,156 million. The main
drivers were higher global demand and the activities acquired in 2015. This
was countered by a slight reduction in selling prices. Adjusted EBITDA
improved 6 percent to EUR270 million, mainly as a consequence of higher
volumes, favorable raw material costs and positive currency effects. The
adjusted EBITDA margin improved to a very good 23.4 percent. In the first
six months of the year, this segment's sales rose 2 percent to EUR2,276
million, driven principally by higher volumes. Lower selling prices had a
counter-effect. Adjusted EBITDA increased 6 percent to EUR526 million. The
adjusted EBITDA margin improved to 23.1 percent (H1 2015: 22.3 percent).

In the Performance Materials segment, sales dropped 12 percent to EUR829
million in the second quarter, principally owing to lower selling prices as
a result of the reduction in raw material prices. By contrast, volumes rose
considerably thanks to good demand. Adjusted EBITDA rose by 28 percent to
EUR105 million. This was principally due to a rise in volumes, improved raw
material efficiency and systematic cost management. The adjusted EBITDA
margin was 12.7 percent, up from 8.7 percent in the second quarter of 2015.
Sales in the Performance Materials segment fell 10 percent to EUR1,601
million in the first six months of 2016. With volumes up, the decline was
caused by the oil-driven drop in selling prices. Adjusted EBITDA improved
10 percent to EUR169 million. The adjusted EBITDA margin improved to 10.6
percent.


Evonik Group: Excerpt from the income statement


(in EUR million) Q2 2016 Q2 Change H1 H1 Change
2015 in % 2016 2015 in %
Sales 3,258 3,519 -7 6,363 6,944 -8
Adjusted EBITDA 585 661 -11 1,150 1,311 -12
Adjusted EBIT 406 486 -16 795 971 -18
Adjustments -47 122 -59 85
Financial result -93 -51 -128 -114
Income before 266 557 -52 608 942 -35
income taxes,
continuing
operations
Income taxes -97 -133 -195 -249
Income after taxes, 169 424 -60 413 693 -40
continuing
operations
Income after taxes, -1 -5 -1 -15
discontinued
operations
Income after taxes 168 419 -60 412 678 -39
thereof 3 1 7 4
attributable to
non-controlling
interests
Net income 165 418 -61 405 674 -40
Adjusted net income 246 307 -20 501 627 -20

Prior-year figures restated



Segment performance

Sales Q2 Adjusted
EBITDA Q2
2016 2015 Change 2016 2015 Change
EUR EUR in % EUR EUR in %
million million million million
Nutrition & 1,111 1,248 -11 264 381 -31