Evonik's net income rose by around 69% year on year in the first quarter of this year amid higher selling prices at its performance materials and specialty additives businesses, said the company.
"Across all divisions, we were able to adjust selling prices successfully and therefore offset the increase in variable costs,” Evonik's chairman Christian Kullmann said in a statement.
"The performance materials division benefited from higher demand and improved selling prices for C4 products in the first quarter. "In the present situation, its naphtha-based price clauses act as a natural hedge against higher oil prices," the company said.
"The company expects to report adjusted EBITDA of between EUR2.5bn and EUR2.6bn and sales of between EUR15.5bn and EUR16.5bn. In 2021, Evonik’s adjusted EBITDA was EUR2.38bn and sales were EUR15bn.
"Higher energy prices and considerable uncertainty about the supply of raw materials are weighing on industry and the entire economy, Kullmann said.
"Based on our strong start to the year and assuming there will be no further escalation in the geopolitical situation, we are confirming our outlook for the full year," he added.
As per MRC, Evonik Catalysts has opened a new zero liquid discharge (ZLD) plant at its facility in Dombivli, India. The new plant reduces the amount of fresh water required for production processes and turns material that was previously considered waste into saleable products. ZLD purifies and recycles wastewater at the end of an industrial process, leaving little to no effluent remaining when it is completed. This means not only more efficient water use, but also a significant reduction in waste liquid.
We remind that in February, 2020, Dow and Evonik entered into an exclusive technology partnership. Together, they plan to bring a unique method for directly synthesizing propylene glycol (PG) from propylene and hydrogen peroxide to market maturity.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of EUR12.2 billion and an operating profit (adjusted EBITDA) of EUR1.91 billion in 2020. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers.
mrchub.com