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Evonik Industries forecast a fall in its 2023 core profit, citing lower animal feed prices in the second half of 2022 as clients cut inventories. The company is also dealing with elevated inflation and volatile energy prices while shifting toward specialty chemicals.
Weaker feed-additive pricing and customers cutting inventories reflect soft demand for feed ingredients, which can keep additive prices under pressure.
reuters.comAntonis Pothitos, Tristan ChabbaMar 2, 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.
