March 4, 2021, 2:23 a.m. EST

Evonik Industries profit falls, maintains dividend

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By Joshua Stein

Evonik Industries AG said Thursday that its fourth-quarter net profit decreased due to the coronavirus pandemic but it would keep its dividend steady.

Quarterly net profit fell to 73 million euros ($88.1 million) from EUR160 million for the same period a year earlier, the German specialty chemicals company said.

Adjusted earnings before interest, taxes, depreciation and amortization fell to EUR418 million from EUR505 million. Sales for the quarter were EUR3.21 billion, down from EUR3.28 billion.

The company will propose a dividend of EUR1.15 a share for 2020, flat on the year before.

For the full year, Evonik's sales fell 7% to EUR12.20 billion while adjusted Ebitda decreased to EUR1.91 billion.

Evonik said robust demand for construction industry products, renewable energy and hygiene products kept sales from sliding further.

Evonik forecast adjusted Ebitda to increase to between EUR2.0 billion and EUR2.3 billion in 2021. Sales should be between EUR12 billion and EUR14 billion, it said.

Write to Joshua Stein at

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