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Sport Evonik exceeds expectations - Evonik share stable

22:15  06 may  2021
22:15  06 may  2021 Source:   finanzen.net

Evonik supplies lipids for BionTech vaccine earlier as planned - Share Fixed

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Evonik has benefited from increasing demand and higher prices at the beginning of the year and the result is more significantly increased than expected by analysts.

The specialty chemical company from Essen judges the business prospects for 2021 a little better now and raised the lower end of the profit forecast.

In the first three months, the adjusted operational profit (EBITDA), the central earnings code, climbed 15 percent to 588 million euros and thus exceeded both its own goal (at least € 550 million) and the consensus estimation of the analysts created on behalf of the company (560 million euros). The bottom line was even 43 percent more profit at 186 million euros. Sales rose 4 percent to 3.358 billion euros. Again, analysts had less expected

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with the exception of the Performance Material segment showed all business segments. "The result in the first quarter not only exceeds the value of 2020, but also the pre-pandemic year 2019," said board leader Christian Kullmann. The Group's free cash flow tripled almost to 312 million euros in the first quarter and thus exceeded the value of 159 million euros from 2019.

The sales forecast for 2021 confirmed Evonik with 12 to 14 billion euros. However, adjusted EBITDA is now expected at 2.1 to 2.3 billion euros - so far the span reached from 2.0 to 2.3 billion euros.

Evonik peaks for 2nd quarter approximately 623 million euros adjusted EBITDA to

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Evonik wants to repeat the strong earnings growth at the beginning of the year during the second quarter . The aim is an adjusted EBITDA on the order of 623 million euros, as evidenced by an analyst presentation of the specialty chemical company. It says, in the period April to June, a growth level compared to the pre-pandemic level is expected. Concretely, the adjusted EBITDA should be 10 percent higher than in the same period 2019. At that time, 566 million euros were posted.

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for the past quarter Evonik reported 588 million euros adjusted EBITDA - 15 percent more than in the comparable period of the Corona Crisis Year 2020 and 9 percent more than 2019.

Evonik share: Charttechnik lerted the shares of Evonik on Thursday Quarterly numbers and more optimistic views in the future to favorites in the MDAX counted.

In Thursday trading, the papers of the specialty chemical manufacturer Marginalale 0.03 percent higher at 29.71 euros. The struggle for the 21-day line is not yet sustainable. It signals charttechnically oriented investors the short-term trend of the stock.

analysts were positively commented on the numbers of the first quarter and praised the surprisingly strong operating result. In view of the increased prices for the animal feed chest Methionine, this has already been expected by some, limited JPMorgan analyst Chetan Udeshi.

Due to the highly adjusted annual target margin for EBITDA, Warburg expert Oliver Schwarz now expects an increase in the average analyst estimation. Analyzer Georgina Iwamoto by Goldman Sachs also wrote that you appear "conservative" at the lower end of the span slightly raised profit view.

Frankfurt (Dow Jones Newswires / DPA-AFX)

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