May 8, 2018 / 5:06 AM / 17 days ago

Evonik Q1 earnings up on personal care products, feed additives

FRANKFURT, May 8 (Reuters) - Germany’s Evonik reported a 14 percent gain in quarterly adjusted core earnings on strong demand for ingredients that go into personal care products and as prices for animal feed additives stabilised.

First-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) adjusted for one-offs rose to 679 million euros ($809 million), ahead of an average analyst forecast of 657 million posted on the company’s website.

In a statement on Tuesday, Evonik said it was still targeting adjusted group EBITDA for 2018 of 2.4 to 2.6 billion euros, up from 2.36 billion last year.

Reporting by Ludwig Burger Editing by Maria Sheahan

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