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Evonik expects Q2 core profit in line with Q1, confirms 2024 outlook
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Evonik expects Q2 core profit in line with Q1, confirms 2024 outlook
May 7, 2024 10:26 PM

May 8 (Reuters) - German chemicals group Evonik

Industries on Wednesday forecast its core profit for

the second quarter to be "roughly on par" with that of the first

quarter.

The company said its first-quarter adjusted earnings before

interest, taxes, depreciation and amortisation (EBITDA) came in

at 522 million euros ($560.63 million), in line with preliminary

figures published last month, and reiterated its full-year 2024

outlook.

"Many of our customers are buying again," Evonik chief

executive Christian Kullmann said in a statement, but added that

there was no broad-based upturn yet, as some industries and

markets remained restrained.

Evonik's chemicals are used in products from cars to animal

feed, as well as in Pfizer ( PFE ) and BioNTech's COVID vaccine.

($1 = 0.9311 euros)

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