Evonik: Nutrition & Care segment shows robust performance
Against the backdrop of the worldwide recession triggered by the Corona pandemic, Evonik is getting through the crisis well. Nevertheless, sales and earnings in the second quarter decreased compared to the previous year due to significantly weaker demand in some markets. Company sales fell by 14 % to EUR 2.83 billion, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell 19 % to EUR 456 million.
The two growth segments Resource Efficiency and Nutrition & Care showed robust performance in the second quarter and achieved strong EBITDA margins of 20 % each. The Performance Materials segment, on the other hand, was hit much harder by the slump in demand as well as suffering from the low oil price.
The Nutrition & Care segment stayed robust. Sales fell by only 4 % to EUR 1.09 billion in the second quarter. Adjusted EBITDA even rose by 14 % to EUR 217 million. The essential amino acids for animal nutrition benefited from higher selling prices and increased demand. The health care business once again recorded a pleasing development in pharmaceuticals and food ingredients as well as pharmaceutical polymers. However, additives for polyurethane foams experienced a decline in demand.