Q2 adj. EBITDA of €450 m slightly better than Q1 (€409 m)
Recovery slower than expected in May and June;
persistently very weak demand across all end markets and continued customer destocking
Strict contingency measures with supportive effect; on track to achieve full effect of €250 m in second half of the year
Revised adj. EBITDA outlook for FY 2023 of €1.6 to 1.8 bn no longer assumes any recovery in H2
FCF broadly stable in H1 (yoy) despite significantly weaker adj. EBITDA;
FY target to develop cash conversion rate towards 40% confirmed

Key figures for the Evonik Group
2nd quarter 1st half
in € million 2022 2023 2022 2023
Sales 4,772 3,886 9,270 7,891
Adjusted EBITDAa 728 450 1,462 859
Adjusted EBITDA margin in % 15.3 11.6 15.8 10.9
Adjusted EBITb 456 157 928 287
Income before financial result and income taxes, continuing operations (EBIT) 421 -255 876 -172
Net income 297 -270 611 -223
Adjusted net income 351 123 707 237
Earnings per share in € 0.64 -0.58 1.31 -0.48
Adjusted earnings per share in € 0.75 0.26 1.52 0.51
Cash flow from operating activities, continuing operations -74 34 235 260
Cash outflows for investments in intangible assets, property, plant and equipment -165 -237 -341 -443
Free cash flowc -239 -203 -106 -183
Net financial debt as of June 30 – – -3,836 -4,116
No. of employees as of June 30 – – 33,235 33,357
a
Earnings before financial result, taxes, depreciation, and amortization, after adjustments, continuing operations.
b
Earnings before financial result and taxes, after adjustments, continuing operations.
c
Cash flow from operating activities, continuing operations, less cash outflows for investments in intangible assets, property, plant and equipment.
Due to rounding, some figures in this report may not add up exactly to the totals stated.

see & read more on
https://files.evonik.com/shared-files/evonik-q2-2023-e-9097.pdf