Evonik posts robust business results for 2022 in a difficult environment
For Evonik, 2022 was characterized by a very successful first half, followed by a much more difficult second half. Overall, sales rose by 24 percent to €18.5 billion. The Specialty Additives division recorded a successful business performance, with sales also rising.
Volumes at Evonik declined slightly overall, but prices for raw materials and energy rose sharply in some cases. Evonik was able to pass most of the higher purchase prices on to customers. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) rose by 4 percent, just at the lower end of the forecast range of €2.5 billion to €2.6 billion. At €2.49 billion, the figure was the highest since 2012. Evonik is cautiously optimistic for 2023: "The effects of war, high inflation and massively fluctuating energy prices have taken a lot out of us-and still do," says Christian Kullmann, Chairman of the Executive Board. "Nevertheless, we were able to achieve the best operating result in the past ten years. Evonik is well positioned for the current difficult times. That will continue to pay off in the current year." Despite the difficult conditions, Evonik is pressing ahead with its transformation toward sustainability and profitability. "We are systematically focusing our investments on sustainable growth markets and divesting cyclical businesses," says Kullmann.
Evonik's Specialty Additives chemicals division reported a successful business performance. Its sales rose by 13 percent to €4.18 billion as a result of significantly higher selling prices, mainly from passing on higher raw material costs, and positive currency effects. Additives for polyurethane foams for durable consumer goods and for the automotive sector generated higher sales at improved prices. Products for the construction and coatings industries and for renewable energies also developed positively. Adjusted EBITDA increased by 3 percent to €946 million.