Evonik's Q2 core profit beats estimates on higher prices, currency effects

(Reuters) – German chemicals group Evonik Industries on Wednesday reported higher-than-expected core profit for the second quarter, on the back of higher selling prices and positive currency effects and despite slightly lower volumes.

The company, which makes ingredients for products ranging from animal feed and diapers to Pfizer/BioNTech’s COVID-19 vaccine, reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 728 million euros ($743 million) in the three months to June 30, up 12% on the year and above analysts’ forecast of 700 million euros in a company-provided poll.

($1 = 0.9793 euros)

(Reporting by Karol Badohal and Bartosz Dabrowski in Gdansk; editing by Milla Nissi)

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