Evonik Industries AG : Transformation progresses - Not as bad as feared excluding methionine where restructuring is initiated, remains top dividend payer at discount
>Weak animal nutrition (methionine) and PM weighed heavily in Q1 - Evonik already flagged continuing weakness and EBITDA in Q1 largely in line with € 400m reported in Q4 back at the Q4 call, finally reporting 2% q-o-q EBITDA growth to € 409m in Q1 23, down 43% y-o-y. Pronounced price-driven weakness in animal nutrition (sales -21% y-o-y, -17% q-o-q), continuing destocking across segments (group volumes -14% y-o-y) and much weaker y-o-y upstream spreads (PM-EBITDA -55...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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