"Evonik did well, even though the global economic situation was still difficult," commented Klaus Engel, Chairman of the Executive Board of Evonik Industries AG, when the Group published its key financial data for the third quarter and first nine months of 2013. "Between July and September our operating results improved slightly compared with the second quarter of 2013. The perceptible year-on-year increase in volumes was pleasing, but selling prices for some key products remained below the high prior-period levels." Overall, the operating performance in the first nine months fell short of the very good prior-year period.
A solid business performance in the Q3 2013—Pleasing volume growth but a perceptible decline in selling prices
Although global economic conditions remained difficult in the third quarter of 2013, Evonik's overall operating performance was solid. Volume sales increased perceptibly, even though there was only a slight upturn in key end-customer industries. In view of the challenging market conditions, selling prices for some key products—especially butadiene and amino acids for animal nutrition—were considerably lower than in Q3 2012. Overall, the Evonik Group's sales and the operating results were below the previous year's very good figures. Nevertheless, in the third quarter of 2013 the operating results improved slightly compared with the second quarter of 2013.
Group sales decreased 4 percent to €3,239 million in the third quarter of 2013 (Q3 2012: €3,359 million). The organic sales decline was 1 percent. A perceptible rise in volumes (+5 percentage points) largely offset the drop in prices (-6 percentage points). Exchange rates clipped sales by 1 percentage point. The other effects totaling minus 2 percentage points mainly related to the cyanuric chloride business in China, which was sold in December 2012.
The operating results fell short of the very high prior-year results in the third quarter of 2013, mainly because of lower selling prices for some key products. Overall, adjusted EBITDA fell by 26 percent to €518 million (Q3 2012: €701 million) and adjusted EBIT shrank by 32 percent to €375 million (Q3 2012: €553 million).
The adjusted EBITDA margin was 16.0 percent, below the previous year's exceptionally good level of 20.9 percent. Net income improved from €355 million in the third quarter of 2012 to €1,470 million in the third quarter of 2013 thanks to the income from divestment of the real estate activities. Adjusted net income, which does not contain either the impact of adjustments or the discontinued operations, declined by 38 percent to €210 million in the third quarter of 2013 (Q3 2012: €336 million).
Click here to view full result.
Textiles | On 28th Apr 2017
Uniform levy of 5 per cent Goods and Services Tax (GST) on all...
Textiles | On 28th Apr 2017
The countervailing duty (CVD) that was imposed on Nepali jute...
Fashion | On 28th Apr 2017
The easiest way to go out of business is to be too big or expand too...
Varinder Singh Jawanda
Sizing and fitting issues are inherent problems for companies expanding...
We constantly communicate with employees at all levels
Fabric does not restrict us from fashion trends
Iago Castro Asensio
RCfil Distribuciones S.L.
Iago Castro Asensio, International Business Manager of RCfil...
Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...
InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
Somaiya Kala Vidya
Among the many honours showered on Frater, including Fulbright and Ford...
Yash P. Kotak
Bombay Hemp Company
One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...
Bani Batra’s couture wedding collection is inspired by traditional Indian...