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Evonik reported third-quarter 2023 adjusted EBITDA of €485 million, up 8% from the second quarter but down 21% year-on-year, with group sales falling 23% to €3.77 billion. Methionine prices bottomed in the third quarter and have improved slightly since.
The company also plans to split its Technology & Infrastructure division and streamline administration.
Methionine is a key feed amino acid, and a bottoming in Evonik's methionine prices with a slight recovery points to firmer feed-additive pricing for animal nutrition buyers, though demand remains weak.
evonik.comJörg Wagner, Richard WeissNov 7, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
