Remodeling and cost-cutting measures take effect
Evonik recently reported a strong increase in profits in 2024. Specifically, according to its press release, the Essen-based specialty chemicals supplier increased its adjusted EBITDA - earnings before interest, taxes, depreciation and amortization - by 25 percent to around €2.1 billion.
EBITDA 2024 was therefore within the forecast range of EUR 1.9 to 2.2 billion, as the company mentioned. The forecast was already raised in the summer.
At €15.2 billion, sales in 2024 reached roughly the previous year's level. Evonik writes that profitability increased accordingly. In this case, according to its press release, the Group measures profitability by the adjusted EBITDA margin. Evonik increased this from 10.8 percent in 2023 to 13.6 percent in 2024.
Group result 2024: 222 million euros
Evonik's consolidated net income for 2024 is €222 million. According to Evonik's financial and sustainability report for 2024, this is a significant improvement. In 2023, the consolidated net result was minus €465 million.
In its press release, Evonik emphasizes that the restructuring and cost-cutting measures are having an effect. The Group intends to continue to grow in the future, as the company makes clear in the headline of the press release.
Christian Kullmann, Chairman of the Management Board, commented on business development: "We have grown in the political and economic headwinds of the past year! We have become more robust." This will continue to pay off this year, although the environment remains difficult.