Evonik refocuses portfolio and German sites, funds growth via Tailor Made cuts

Strategic intent

Evonik plans to sharpen its portfolio and site roles to strengthen growth through 2030, concentrating expansion on core strengths, future topics and the most lucrative markets while improving cost positions to create financial leeway.

Portfolio moves and investments

Targeted investments will strengthen the geostrategic balance. Growth projects in Canada and Slovakia in healthcare and biotechnology have been launched with a total volume in the three‑digit million euro range. The group is also withdrawing from activities without prospects and proceeding with closures of smaller sites; divestments of the large C4 chemicals business (Oxeno GmbH) and infrastructure (Syneqt GmbH) are progressing.

Business alignment and regional focus

Individual business units will be aligned and managed by role as either growth drivers or cash generators. A new business line, Designed Polymer Solutions, is being founded to bundle growth areas from aerospace, automotive and gas separation (including biogas and hydrogen). Evonik sees growth opportunities particularly in Asia and the Americas and plans further investments there while leveraging its European production network, mainly German sites, to accelerate market access and balance revenues across Europe, Asia and the Americas.

Restructuring programme and workforce measures

The Evonik Tailor Made restructuring programme aims to lower the Group cost base and includes cutting 3,200 jobs worldwide (around 2,150 in Germany). The programme’s first phase runs 2024–2026, followed by a second implementation phase 2027–2029. Detailed measures to be completed by end‑2026 include not filling vacant positions, early retirements and voluntary departures with severance, carried out in dialogue with employee representatives.