Evonik Q1 Report 2024

Evonik had a much better start into 2024 than the capital market had expected. The final results for the first quarter 2024 from the specialty chemicals company now available confirmed the preliminary data published April 16. Adjusted EBITDA increased by 28 percent higher to €522 million compared to the same quarter of the previous year. Free cash flow also grew significantly: at €127 million, it was well above the first quarter of 2023 (€21 million).

“Many of our customers are buying again,” says Evonik Chief Executive Officer Christian Kullmann. “However, there is still restraint in some industries and markets, so we are not seeing a broad-based upturn yet.”

Sales volumes increased its by 4 percent in the first quarter. Prices, on the other hand, fell by 5 percent, partly due to the passing-on of lower raw material prices. 

Highlights

• Preliminary figures verified: Adjusted EBITDA rises
• 28 percent to €522 million in first quarter
• Free cash flow at a strong €127 million
• Sales volumes up by 4 percent