Evonik Industries Announces 2019 Results: Continued Stable Earnings

achieved the expected target: adjusted
EBITDAstable at2.153million euros, free cash flow significantly improvedoutlook:adjustedEBITDAremained between20to2.3billion euros, free cash flow increased slightlyto implement a newstructure in accordance with corporate strategy , despite the deteriorating global economic situation, Evonik remained profitable adjusted EBITDA for 2019 was 2.153
billion euros, compared with a 2.15 0 billion euros a year earlier sales in the of 2019 were 13
.1 billion euros, down slightly from last year
1 percent "
we achieved our goals in 2019 Although the market environment is much more difficult than the previous year, we have maintained a stable profit," said Chairman Kule Man "Evonik represents reliability and stability "
at its annual general meeting scheduled to May 2
020
may 27, 27
, the Executive Board and the Supervisory Board of the company will propose a dividend of 1.15 euros per share At the close of close at the end of 2019, Evonik's dividend yield will reach 4.2 per cent , ranking among the world's top chemical companies -based Evonik completed the sale of its methyl acrylates business in July , 2019, a deal that more than doubled its net income this year to 2.
billion euros 's free cash flow reached 717,
million euros, excluding taxes from the divestiture of its methyl acrylates business This is a big increase from last year 's Chief Financial Officer
"The initiatives we've implemented over the last few years to increase free cash flow have been very effective," UteWolf said This year, our goal is to further increase free cash flow "
2020 , Evonik expects sales growth in its specialty chemicals business segment However, the weak global economic environment is not conducive to the partial commodities business Based on this, the Company expects to maintain a stable sales 2020, with adjusted
EBITDA to 2 0.
to 2.3 billion euros Evonik has been committed to implementing its corporate strategy The company is now adjusting its organizational structure to fit the strategic growth engine it defined two years ago july 1,
0
00 , The company's current business segment will be reconstituted into four business units: specialty additives, nutrition and care, smart materials, and functional materials These four departments are more balanced in terms of both size and type of business They will each play a clear strategic role, targeting a common end market, sharing a unified standard technology platform and making it easier to manage At that time, the four business units will also have their own streamlined and efficient organizational structure At the same time, Evonik defines its mission as a company - beyond chemical boundaries to lead the way to a better future "This mission answers who we are and what we try to for," says It will be the compass on our way forward "
business segment performance resource efficiency business segment : 2019 sales of 5.69 billion euros, the same as last year Slowing demand in the automotive and coatings industries has had a negative impact on the coating additives, coatings and adhesive resins, and oil additive lines Sales in the silicon dioxide business in the end market for adhesives and silicones declined In contrast, demand for high-performance polymers remains strong, particularly in the 3D printing and specialty film manufacturing demand in the wind power market benefit cross-linking agent
s that environmentally friendly coating systems and high-performance composites The reactive oxygen business has benefit from strong market demand and licensing fee revenue Adjusted EBITDA for the sector to 1.29
billion euros, 1% increase over 2018 's nutrition and consumer chemicals business : sales in the of 2019 were 4.58 billion euros, down 1% from last year Although the market demand
for for essential for animal nutrition remains strong , sales prices for amino acid products have continued to fall over the past year The specialty products in the cosmetics solutions business the business developed very well Adjusted
ebitda for the sector adjusted 2019 fell 10 percent from last year , to 728 million euros 's functional materials business : sales in 2019 were 2.04
billion euros, down 9 percent from the previous year
The development of functional intermediate business has been affected by the of lower crude oil prices, raw material supply bottlenecks and plant shutdowns Adjusted ebitda for the sector 2019 ebitda to 224 million euros, down 6 percent from last year Evonik Is the world's leading specialty chemicals company with operations in more than 100 countries and regions in In fiscal year 2019, Revenue and Loss's sales were 1.31
billion euros, with operating profit (adjusted earnings before interest, tax, depreciation and amortisation) reaching 2.15 billion euros
Beyond the boundaries of chemistry, we are committed to creating innovative, profitable and sustainable solutions for our customers Evonik's 32,000
employees around the world have been working tirelessly to make life better and better disclaimer
the forecasts or expectations made so far in this press release or in any forward-looking statements that are relevant to the future may contain certain known or unknown risks and uncertainties As the company's business environment changes, the actual development results may differ from expectations Evonik Industries Group and its Group companies will not be obliged to update any forecasts, expectations or statements made in this press release