March 17, 2008 / 11:02 AM / 12 years ago

UPDATE 1-Evonik reiterates ready for either IPO or investor

(Adds detail on IPO)

FRANKFURT, March 17 (Reuters) - German conglomerate Evonik [RUHR.UL] reiterated on Monday that it was prepared either to sell shares in an initial public offering or for an investor to take a stake after it posted higher 2007 profit.

Earnings before interest and taxes rose 14 percent in 2007 to 1.348 billion euros ($1.80 billion), the company said.

Sales in the year rose to 14.43 billion euros from 14.125 billion euros, while net profit fell 16 percent to 876 million euros due to asset sales, Evonik said.

“Whether our owner decides to sell shares or to sell a stake to an investor - we are ready,” Chief Executive Officer Werner Mueller said in a statement. “With this successful year, Evonik is well-prepared for the capital markets.” (Reporting by Peter Dinkloh)

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