08 August 2012 08:49 [Source: ICIS news]
SINGAPORE (ICIS)--Evonik’s net profit surged to €264m ($326m) in the second quarter of this year, compared with €94m in the same period a year earlier, the Germany-based specialty chemicals maker said on Wednesday.
The second-quarter 2011 net profit figure was impacted by high one-off expenses related with divestments, the company said in a statement.
The company’s adjusted net profit, after taking into account these expenses, fell by 33% year on year to €270m, it said.
The company’s overall sales fell by 9% year on year to €3.48bn, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was down by 7% at €674m, the firm said.
For the first half of 2012, the company’s net profit rose by 2% year on year to €533m, while sales was down by 8% at €6.94bn, it said.
Looking ahead, the company said that risks relating to the European sovereign debt crisis are now higher.
“First signs of a drop in demand are already evident in ?xml:namespace>
“Overall, Evonik expects to report slightly higher sales for fiscal 2012. The operating results will probably be in line with or slightly above the excellent 2011 level,” the company added.
($1 = €0.81)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections