MOSCOW (MRC) -- Specialty chemicals company Evonik Industries increased first-quarter net profit by 54% year on year to EUR256m in spite of a 10% decline in earnings from its performance materials segment, said the producer in its press release.
Company's sales for the first three months of 2015 increased 7% year on year to EUR3.43bn, with adjusted operating profit surging 53% to EUR485m. Company reported a considerable improvement in adjusted EBITDA to EUR650 million (+40%).
Evonik increased adjusted net income substantially to EUR320 million (+63%).
Evonik's performance materials segment posted EUR353m in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA). Evonik’s nutrition & care business had a strong first quarter, with adjusted EBITDA up 90% year on year to €353m, backed by a 28% increase in sales to €1.23bn.
Company raised outlook for fiscal 2015: sales slightly above prior year, adjusted EBITDA expected to be at least EUR2.2 bn.
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2014 more than 33,000 employees generated sales of around EUR12.9 bn and an operating profit (adjusted EBITDA) of about EUR1.9 bn.