Evonik earnings up 25% helped by silicas business gains

Essen, Germany – Evonik has reported a 25% year-on-year increase in earnings (adjusted EBITDA) to €2.0 billion for 2024, on sales about level at €15.2 billion.

Sales in the Smart Materials division, which includes the group’s silica/silanes units, came in at €4.5 billion, again on par with the prior-year level.

Earnings for the division grew 11% year-on-year to €600 million, with Evonik noting higher demand for silicas and catalysts, and stronger polymer volumes.

Overall, the group made the gains despite “economic and political headwinds”, said CEO Christian Kullmann, adding that trading looks set to remain difficult this year.

In its 5 March report, Evonik said a group-wide efficiency programme was in “full implementation mode,” with expected cost reductions of €400 million by yearend 2026.

“The reorganisation and the planned job cuts are going according to plan and in close consultation with employee representatives,” said Thomas Wessel, head of Evonik human resources.

With the bundling of businesses into two segments, he said, complexity is decreasing in the group. (ERJ report)

For 2025, Evonik expects adjusted earnings to range between €2.0 billion and €2.3 billion, as restructuring and cost-cutting efforts take effect.