Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Ukraine
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
March 07, 2017 12:00 AM

Evonik sales down in 2016, new chairman for 2017

Simon Robinson
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Essen, Germany — Evonik Industries sales' declined by 6% in 2016 to €12.7 bn compared with €13.5 bn the year before. Adjusted EBITDA (earnings before interest taxation depreciation and amortisation) also fell by 12% to €2.2 billion.

    However, the company significantly roof increased adjusted EBITDA in the performance materials section, which includes polyurethane surfactants and, following the purchase of Air Products catalyst business, polyurethane catalysts group by 20% to €371 bn in 2016 up from €309 m , in the previous year.

    The firm said that "following an exceptionally strong performance in the previous year, the earning situation normalised in 2016. Invite was only partially able to compensate for the low global economic momentum, the low oil price and the normalisation of prices for animal nutrition products," the company said. This accounted for the 12% drop in EBITDA across the company.

    The company announced a raft of changes at the top of its executive board.

    Engel: stepping down in May

    Klaus Engel (60), chairman of Evonik's Executive Board, is to hand over to his successor Christian Kullmann (47) and leave  the company at the end of the Annual Shareholders’ Meeting on 23 May 2017.

    Harald Schwager (56), currently a member of the board of executive directors at BASF will be joining Evonik on September 1 as the new deputy chairman of the Executive Board, with responsibility for chemicals and innovation. He will be stepping down from BASF in May.

    Ralph ' (51), chief operating officer of Evonik, has decided to leave the company at the end of his term in office and the post will not be refilled, Evonik said.

    Recommended for You
    UTECH Awards 2024 nominations open
    UTECH Europe 2024 – Polyurethane Awards open for entries
    corn maize 800
    BASF deal with Qore secures supply of raw material for biobased TPU
    Novel XDI-based crosslinker creates flexible adhesives with good recovery
    Novel XDI-based crosslinker creates flexible adhesives with good recovery
    Latest Issue
    urethanes technology
    Get the latest edition here
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Crain Communications
    11, Ironmonger Lane
    London
    EC2V 8EY
    United Kingdom

    Editorial
    Phone +44 (0) 20 3287 5935
    Email click to send

    Customer Service
    Phone +1 313 446 0450
    Email click to send

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Ukraine
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
    • Advertise
    • Contact Us
    • Issues
    • Subscribe