November 6, 2018 / 6:08 AM / 13 days ago

Evonik adjusted EBITDA up 8 percent on higher prices in third quarter

FILE PHOTO: The logo of German specialty chemical company Evonik Industries AG is pictured at their plant in Bitterfeld, Germany, February 29, 2016. REUTERS/Fabrizio Bensch

FRANKFURT (Reuters) - German chemicals group Evonik (EVKn.DE) on Tuesday posted an 8 percent gain in adjusted core profit, thanks to higher prices and strong demand for animal feed additives, coatings and engineering plastics.

Third-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) adjusted for one-offs rose to 692 million euros (604 million pounds),in line with analyst forecasts .

The company still expects adjusted EBITDA of 2.60-2.65 billion euros, on slightly higher sales, for the full year.

Reporting by Ludwig Burger, editing by Riham Alkousaa

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