Essen, Germany — Sales in Evonik's Nutrition and Care segment, which includes polyurethane additives shrank by 14% in the third quarter of 2016 compared with Q3 2015 to EUR 1.1bn ($1.2) bn, according to the firm.
Adjusted earnings before interest, taxation, amortisation and depreciation was down 37% to EUR 239m. Evonik said "since volumes were stable compared with the strong prior-year period, this was mainly attributable to lower selling prices. Adjusted EBITDA was EUR 239 m, which was below the very high prior-year level of EUR 382 m, mainly on price grounds. The adjusted EBITDA margin dropped to 22.4%."
Evonik Performance Materials expects to complete the $3.8 bn purchase of Air Products’ specialty chemicals business by year-end, Johann-Caspar Gammelin, chairman of the board of management confirmed recently at the K Show in Dusseldorf.
Currency conversion: XE.com 4 November 2016 ($1= EUR 0.91)
