* Q4 adj EBITDA 437 mln eur vs Rtrs poll avg 432 mln
* Expects increase in 2017 adj EBITDA to 2.2-2.4 bln eur
* Feed ingredient price declines to level out going into '17
(Adds details on businesses that saw price declines, background
on takeover deal)
ESSEN, Germany, March 2 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 and
absorbent materials for diapers.
Quarterly 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.
In the year-earlier period, the feed ingredients business
was bolstered by rivals' production outages.
Evonik said it was aiming for 2.2 to 2.4 billion euros in
2017 adjusted EBITDA, up from 2.17 billion euros in 2016.
The company, which also makes clear acrylic sheet and rubber
chemicals, said it expected price declines for its feed
ingredients, which are sulfur-containing amino acids mainly used
for poultry, "to level out going into 2017".
At the beginning of the year, Evonik wrapped up the
acquisition of Air Products' specialty additives
division for $3.8 billion, a maker of ingredients for insulation
foams, sun lotion and coatings, to reduce dependence on the
volatile animal feed business.
($1 = 0.9496 euros)
(Reporting by Matthias Inverardi; Writing by Ludwig Burger)