Evonik 4Q Broadly In Line; Methacrylates on the Block
No-moat Evonik reported fourth-quarter results that were broadly in line with our expectations. EBITDA of EUR 474 million was up 8% over 2016 due to continued strong performance in resource efficiency and performance materials, which was related to healthy demand coming from the automotive end market. Nutrition and care was slightly softer than expected, but we were encouraged to see continued positive developments in the methionine market, including sequentially higher prices. Full-year EBITDA ...
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