# Weak economy characterizes difficult first quarter

> 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.

- Date: 2023-05-09 · published 2023-05-09T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/36281-weak-economy-characterizes-difficult-first-quarter
- Commodities: [Methionine](https://feedsoft.ai/c/METH.md)

## Why it matters

Evonik's warning confirms weak methionine pricing and soft feed additive demand, supporting lower prices for amino acid inputs in animal feed.

## Read by commodity

- METH: bearish ▼

## Sources

- evonik.com: https://www.evonik.com/en/news/press-releases/2023/05/weak-economy-characterizes-difficult-first-quarter.html

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