- Evonik's Q3 2025 adjusted EBITDA is projected between €420M and €460M.
- Q3 revenue is expected to be around €3.4B, down from €3.8B in Q3 2024.
- Full-year 2025 adjusted EBITDA forecast is revised to €1.9B.
- Cash conversion rate is now expected between 30% and 40%.
Q3 2025 Financial Outlook
Evonik anticipates its adjusted EBITDA for the third quarter of 2025 to range between €420 million and €460 million. This is a decline from the second quarter's €509 million, which had benefited from a strong April. The company had initially expected a slight economic recovery in the latter half of the year, but this has not occurred, leading to cautious customer behavior across all segments and end markets.
Revenue and Market Expectations
Revenue for the third quarter is projected to be approximately €3.4 billion, a decrease from €3.8 billion in the same period last year. Capital markets had expected an adjusted EBITDA of €501 million, according to the Visible Alpha consensus as of September 25, 2025. The previous year's third-quarter result was €577 million.
Full-Year Forecast Revision
Evonik has revised its full-year 2025 adjusted EBITDA forecast to around €1.9 billion, down from the previous range of €2.0 billion to €2.3 billion. The company had most recently anticipated reaching the lower end of this range. Current market expectations are at €1.96 billion.
Cash Flow and Conversion Rate
The cash conversion rate is now expected to be between 30 and 40 percent, compared to the previous target of about 40 percent and 42 percent in 2024. Weak demand is impacting earnings and has led to a less significant reduction in working capital than planned. Despite this, the absolute free cash flow is expected to remain at an attractive level.
