March 2, 2017 / 6:12 AM / 5 months ago

Evonik's Q4 core profit down on lower feed ingredient prices

1 Min Read

ESSEN, March 2 (Reuters) - German diversified chemicals maker Evonik on Thursday reported a 13 percent decline in adjusted core profit for the fourth quarter due to lower prices for its poultry feed ingredients.

Fourth-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, fell to 437 million euros ($460 million), slightly ahead of the average analyst estimate of 432 million euros.

The company, which also makes clear acrylic sheet and absorbent materials for diapers, said it was aiming for 2.2 to 2.4 billion euros in 2017 adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), up from 2.17 billion euros in 2016.

$1 = 0.9496 euros Reporting by Matthias Inverardi; Writing by Ludwig Burger

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