Evonik Industries AG : Prelim. Q1 EBITDA € 522m, 16% above css with much better SpecAdd; +28% y-o-y incl. volume recovery; outlook confirmed underpinned by good start
>Preliminary Q1 2024 EBITDA of € 522m 16% above cons of € 450m - Positive profit warning (long time not seen) in chemicals with EVK reporting 28% y-o-y growth in prelim EBITDA to € 522m, 16% above cons of € 450m (ODDO BHF € 467m). Includes some € 15m HPPO-licence sales in the SmartMat-segment, but this is not diluting the strong beat. Sales of € 3.8bn declined 5% y-o-y but included some "volume recovery for the first time in two years". Margin recovered to 13.7% in Q1...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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