Evonik Q1 Profit Beats Estimates on Customer Stockpiling
Evonik reported first-quarter core profit of 475 million euros, beating estimates. Customers stockpiled goods due to Middle East conflict supply concerns.
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EVONIK INDUSTRIES AG reported first-quarter adjusted EBITDA of 475 million euros, beating Vara Research forecasts of 448 million euros. The result follows customer stockpiling since March due to supply chain uncertainty linked to conflict in Iran. Investors are weighing a projected 8% second-quarter profit rise against expected volume declines later this year.
