Evonik raises 2026 outlook after Q2 ahead of plan

Second-quarter results and drivers

Preliminary figures point to adjusted EBITDA of €600–650 million for Q2 2026, about 23% higher at the mid-point than Q2 2025 (€509 million). The company had previously guided for at least €550 million in early May. Higher sales volumes, price increases and ongoing cost reductions are cited as the main drivers. Adjusted EBITDA for the first half of 2026 is expected to be around €1.1 billion.

Updated outlook and cash

Evonik is raising its full-year 2026 adjusted EBITDA outlook to €2.0–2.2 billion, up from a prior range of €1.7–2.0 billion; in 2025 the company reported about €1.9 billion. The company continues to target a free cash flow conversion rate of around 40% (2025: 37%). Free cash flow in Q2 2026 is expected to be significantly better than Q2 2025 (Q2 2025: minus €211 million).

Market dynamics and near-term risk

The Advanced Technologies segment benefited from supply-chain disruptions affecting Asian competitors who face raw-material limits. Management warns this advantage may ease later in the year as global marine shipping stabilizes following the reopening of the Strait of Hormuz, leaving uncertainty for H2. The Animal Nutrition segment is expected to sustain positive momentum into Q3.

Restructuring

Evonik is expanding its "Evonik Tailor Made" program (announced June 18) with additional structural and efficiency measures across administration and operations. As part of this and other efficiency efforts, 2,800 jobs are being cut between 2024 and 2026, with roughly 3,200 additional reductions planned for 2027–2029. Final Q2 figures will be published on August 4, 2026.