May 7, 2020 / 5:02 AM / 2 months ago

Evonik cuts full-year outlook due to coronavirus crisis

May 7 (Reuters) - German chemicals group Evonik Industries lowered on Thursday its full-year outlook for 2020, citing challenges in logistics and production amid the coronavirus pandemic.

The company, whose products find use in items from animal feed to diapers, now expects sales between 11.5 billion and 13.0 billion euros ($12.4-$14.0 billion) and an adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of between 1.7 billion and 2.1 billion euros.

In March, the group forecast stable 2020 revenues, compared with 13.1 billion euros in 2019, and adjusted EBITDA at between 2.0 billion euros and 2.3 billion euros. ($1=0.9261 euros) (Reporting by Bartosz Dabrowski in Gdansk; Editing by Clarence Fernandez)

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