Evonik Q1: €475m adjusted EBITDA, outlook confirmed
- Adjusted EBITDA in Q1 was €475 million; sales fell 9% to €3.43 billion, with volumes down 2% and prices down 1%, and the adjusted EBITDA margin was 13.9%.
- Net income was €125 million and free cash flow €183 million.
- Evonik expects Q2 adjusted EBITDA of at least €550 million and confirms full-year adjusted EBITDA guidance of €1.7-2.0 billion.
- The war in the Middle East raised energy and raw-material costs, disrupted trade routes and prompted customer pre-buying since March with higher methionine prices; the Tailor Made program will cut 1,000 jobs and Michael Rauch became CFO effective May 1.
Key figures
Adjusted EBITDA was €475 million in Q1 2026; sales totaled €3.43 billion (‑9%), with volumes down 2% and prices down 1%; unfavorable exchange rates caused more than half the sales decline. Adjusted EBITDA margin fell 0.9 pp to 13.9%. Net income was €125 million (Q1 2025: €233 million) and free cash flow €183 million (previous year €195 million).
Market impacts and outlook
The war in the Middle East increased energy and raw‑material costs, disrupted trade routes and led to customer pre‑buying since March; methionine prices rose. Evonik expects Q2 adjusted EBITDA of at least €550 million (Q2 2025: €509 million), views Q2 as likely the strongest quarter and confirms full‑year adjusted EBITDA guidance of €1.7–2.0 billion.
Segment performance
Advanced Technologies sales declined 9% to €1.45 billion and adjusted EBITDA fell 17% to €241 million (margin 16.6% vs 18.2% prior year). Custom Solutions sales were €1.33 billion (‑7%) and adjusted EBITDA €227 million (‑12%, margin 17.0% vs 17.9% prior year).
Management and efficiency
Michael Rauch became CFO effective May 1 and will present himself at the AGM on June 3; Claus Rettig returns to focus on Asia‑Pacific. The Tailor Made efficiency program is in its third year and, together with other optimization measures, will eliminate about 1,000 jobs this year.
Source: Evonik