May 5, 2017 / 5:06 AM / 4 months ago

Evonik Q1 core profit up 8 pct on demand for tyre silica, additives

FRANKFURT, May 5 (Reuters) - German's Evonik on Friday reported an 8 percent increase in adjusted core profit for the first quarter, bolstered by high demand for specialty chemicals such as coating additives and silica for tyres.

Quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, rose to 612 million euros ($672 million), slightly ahead of the average analyst estimate of 598 million euros in a Reuters poll.

Evonik said it was still aiming for 2.2-2.4 billion euros in adjusted EBITDA this year, up from 2.17 billion euros in 2016.

$1 = 0.9104 euros Reporting by Ludwig Burger

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