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Evonik reported first-quarter adjusted EBITDA down 44 percent to €409 million on sales down 11 percent, with volumes down 14 percent amid customer destocking. The company kept its 2023 earnings forecast at the lower end of the range, citing falling prices for methionine and C4-chain products.
Evonik's warning confirms weak methionine pricing and soft feed additive demand, supporting lower prices for amino acid inputs in animal feed.
evonik.comJörg Wagner, Richard WeissMay 9, 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.
