Essen, Germany -- Evonik Industries AG's chemicals business, which includes the company's Evonik Goldschmidt polyurethanes unit, has recorded a 34 percent increase in sales to Euro 6275 million ($8125 million) in the first half of 2010 (H1), compared to the first six months of 2009.
The growth was driven by a 25 percent increase in volumes and higher selling prices, an 11 Aug Evonik statement said. Earnings were up 91 percent to Euro 1236 million.
Overall group sales grew 24 percent to Euro 7799 million in H1, compared to the same period in 2009, mainly due to a sharp increase in demand, the statement said. Earnings rose 83 percent to Euro 1532 million over the same periods.
For the second quarter of 2010, overall sales rose 31 percent to Euro 3076 million, compared to the second quarter of 2009.
"Following a strong start to the year, there has been a further clear improvement in our operating business," said Evonik chairman, Klaus Engel.
Commenting on a H1 operating result above that achieved in 2008, Engel said: "That is an impressive hike in earnings in the wake of the crisis. We are on course for growth."
However, Evonik said, the improvement could be dampened by an expected slowdown in the current economic upswing and the continued significant increases in raw materials costs.
"In view of the good business trend we are far more optimistic about the outlook for the year as a whole than we were at the start of the year and have raised our forecast again," Engel added.
Thanks to significantly higher demand, the group now anticipates a double-digit percentage growth in sales in 2010 and significantly higher earnings than 2009. (RD)
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