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Evonik Industries AG, DE000EVNK013

Evonik Industries AG, DE000EVNK013

15.10.2020 - 13:02:15

Evonik Industries AG: Evonik publishes preliminary figures for the third quarter of 2020 and updates its outlook for 2020

Essen, October 15, 2020. Evonik Industries AG publishes already today the following preliminary key financial figures for the third quarter of 2020.

Based on preliminary figures, Evonik Group reached an adjusted EBITDA* of ?519 million in the third quarter of 2020 (Q3 2019: ?543 million), thus clearly above market expectations (analyst consensus disclosed by Vara Research on October 14, 2020: ?471 million). During the third quarter, an improving month-on-month trend had already become apparent. This trend further accelerated in September and caused the better than expected results. Main operating drivers were the Specialty Additives and Smart Materials divisions. Specialty Additives delivered ongoing resilience with stable prices and a sustained high margin level of 27.5 percent in the third quarter. Smart Materials demonstrated stability in Inorganics like H2O2 or Catalysts and benefitted from improving trends in the automotive-related businesses.

Sales of Evonik Group for the third quarter 2020 amounted to ?2.917 billion, compared with ?3.232 billion in the prior-year quarter. Consensus expects this number to be ?2.928 billion.

Adjusted net income* in the third quarter decreased from ?195 million in Q3 2019 to ?186 million in Q3 2020 (analyst consensus: ?168 million). Adjusted earnings per share* declined from ?0.42 in Q3 2019 to ?0.40 in Q3 2020 (analyst consensus: ?0.36).

Despite the lower earnings level in the first nine months, free cash flow* is expected to be at least on prior year's level (1-9 2019: ?417 million). Implemented structural cost savings as well as lower bonus and tax payments over the course of the year contributed to this performance. In addition, a positive development in net working capital is expected for the remainder of the year.

Consequently, Evonik is able to raise the free cash flow* outlook for the full year to now around ?700 million. Analyst consensus expects a free cash flow* of ?663 million. The cash conversion rate* is now expected at above 35 percent (previously: cash conversion rate* at least on prior year's level of 33.3 percent).

For the full year, Evonik so far expected an adjusted EBITDA* in the range of ?1.7 and ?2.1 billion. This outlook is confirmed and further specified: Evonik now expects a level between ?1.8 and ?2.0 billion (2019: ?2.153 billion). The sales outlook remains unchanged between ?11.5 and 13.0 ?billion (2019: ?13.1 billion).

Evonik Industries AG will publish final numbers and the quarterly report for the third quarter 2020 on November 3, 2020.

*Notes on key performance indicators (KPIs) can be found in the Financial Report 2019 of Evonik Industries AG on page 186.

The Financial Report 2019 is available at: https://corporate.evonik.com/Downloads/Corporate/BPK/Evonik_Financial_Report_2019.pdf

Contact/person making the notification:? Tim Lange Head of Investor Relations +49 201 177 3150 tim.lange@evonik.com

15-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Evonik Industries AG Rellinghauser Stra?e 1-11 45128 Essen

Germany Phone: +49 (0) 201 177-01 Fax: +49 (0) 201 177-3475 E-mail: investor-relations@evonik.com Internet: www.evonik.com ISIN: DE000EVNK013 WKN: EVNK01 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange EQS News ID: 1141134 ? End of Announcement DGAP News Service


@ dgap.de