08 May 2013 08:16 [Source: ICIS news]
SINGAPORE (ICIS)--Evonik posted a 7% year-on-year increase in its first-quarter net profit to €289m ($220m), the German specialty chemicals company said on Wednesday.
The company’s sales fell by 4% to €3.26bn in the three months to March because of lower selling prices, the company said.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 10% to €589m, the company added.
CEO Klaus Engel said: “However, we expect business to pick up perceptibly in the second half of the year, partly because of a recovery in the global economy and partly because new production capacities will come on stream.”
($1 = €0.76)
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