Evonik Industries AG : Accelerated pricing sticks, drives strong Q1-EBITDA by 25% y/y (13% above consensus); prudent outlook reiterated, with buffer now. CMD due 11 May
>Accelerated pricing pushed Q1 EBITDA 13% above consensus - Evonik joined the growing list of chemicals companies posting better-than-expected Q1 results fuelled by sticking price initiatives. Evonik reported strong Q1 prelims with EBITDA of € 735m coming in 13% ahead of consensus of € 649m (ODDO BHF € 670m) and up 25% y-o-y compared with € 588m in Q1 2021. Pricing acceleration to 22% y-o-y in Q1 2022 vs +19% y-o-y posted in Q4 2021 contributed to 34% y-o-y sales grow...Steag, through its subsidiaries, is engaged mainly in power generation and related industries. Co.'s business is divided into five units: Power generation, Decentralized Energy Supply, Foreign Power Plants, Gas Distribution, and Coal Trading.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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