# Significant profit decline in second quarter - economic environment remains difficult

> Evonik reported second-quarter adjusted EBITDA of €450 million, down 38 percent year over year, with group sales down 19 percent. Volumes fell 9 percent and prices fell 5 percent. The company said weak demand in Germany, Europe and China prevented a turnaround.

- Date: 2023-08-10 · published 2023-08-10T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/34930-significant-profit-decline-in-second-quarter-economic-environment-remains
- Commodities: [Methionine](https://feedsoft.ai/c/METH.md)

## Why it matters

Weak industrial demand and falling prices at a major methionine producer signal soft amino acid pricing and limited near-term demand for feed-grade methionine.

## Read by commodity

- METH: bearish ▼

## Sources

- evonik.com: https://www.evonik.com/en/news/press-releases/2023/08/significant-profit-decline-in-second-quarter---economic-environm.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.