Evonik Industries AG : Q3 preview– Cost contingency measures offset continuing operational weakness on a sequential basis
>Cost contingency measures support flat q-o-q EBITDA in Q3 - Evonik is due to report Q3 results on 7 November. The annual y-o-y volume decline may have continued in the high single-digits % compared to -9% in Q2. The price erosion that kicked-in Q2 with -5% y-o-y after nine quarters of price inflation may have continued on a comparable level, both largely contributing to our estimated 20% y-o-y sales decline in Q3 2023 to € 3.8bn. We expect group EBITDA to be down 25%...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.
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