German chemical maker Evonik Industries AG said Tuesday its 2026 adjusted EBITDA is likely to reach the upper half of its forecast range after higher prices drove a 13% third-quarter sales gain.
The forecast range for adjusted earnings before interest, taxes, depreciation and amortization is €2 billion to €2.2 billion. Evonik's latest assessment puts the likely result in its upper half.
Third-quarter revenue reached €3.825 billion. Selling prices rose 10% and sales volumes increased 2%, Evonik said in its quarterly statement. The company had not recorded a quarterly sales increase of that size since the third quarter of 2022.
Adjusted EBITDA rose 40% from a year earlier to €629 million. The stronger operating result did not produce a net profit: Evonik reported a €53 million loss after booking €313 million in expenses tied to its Evonik Tailor Made restructuring program. It lost €106 million in the year-earlier quarter.
The program also carries a workforce cost. Evonik plans to cut about 3,200 jobs from 2027 through 2029 in its second phase, in addition to 2,800 cuts planned for 2024 through 2026. The company says the changes are intended to improve its cost structure and long-term competitiveness.
Conditions outside Evonik helped its Advanced Technologies business. Supply bottlenecks affecting Asian competitors benefited the segment, the company said. Evonik also cited customers bringing forward inventory purchases as a factor supporting Europe's chemical industry, but expects the favorable effects of the supply disruptions to weaken during the rest of 2026.
Evonik expects fourth-quarter earnings to exceed their year-earlier level. Its fourth-quarter and full-year 2026 results are scheduled for March 4, 2027.
