Evonik: Second Quarter Exceeds Expectations – 2026 Outlook Raised

Based on strong business performance in the second quarter of 2026, Evonik has significantly raised its full-year guidance. According to preliminary figures, the specialty chemicals company expects adjusted EBITDA for the second quarter to range between €600 million and €650 million. At the midpoint, this would represent an increase of around 23% compared with the prior-year quarter, when adjusted EBITDA amounted to €509 million. At the beginning of May, the company had still been forecasting adjusted EBITDA of at least €550 million.

The earnings improvement is driven by higher sales volumes and increased selling prices. Ongoing cost-cutting measures are also contributing positively. The Advanced Technologies segment is benefiting in particular from supply shortages affecting Asian competitors, whose raw material supply has been disrupted. However, Evonik expects this temporary tailwind to diminish over the course of the year as international shipping normalizes following the reopening of the Strait of Hormuz.

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For the first half of 2026, Evonik expects adjusted EBITDA of around €1.1 billion.

Against this backdrop, the company has raised its full-year forecast. Adjusted EBITDA is now expected to be between €2.0 billion and €2.2 billion, compared with the previous guidance of €1.7 billion to €2.0 billion. In the 2025 financial year, Evonik generated adjusted EBITDA of around €1.9 billion.

Evonik has maintained its free cash flow guidance. The company continues to target a cash conversion rate of around 40%, compared with 37% in the previous year. For the second quarter, Evonik expects free cash flow to improve significantly compared with the prior-year period, when it stood at negative €211 million.

Alongside its operational progress, Evonik is continuing its announced corporate transformation. The "Evonik Tailor Made" transformation program is being expanded and extended to include additional structural and efficiency measures across administrative and operational units. Under the program and further efficiency initiatives, a total of 2,800 jobs are to be eliminated between 2024 and 2026. A further reduction of around 3,200 positions is planned for the period from 2027 to 2029. The objective is to sustainably improve the company's cost structure and strengthen its long-term competitiveness.

Evonik plans to publish its final results for the second quarter of 2026 on August 4, 2026.

More information: www.evonik.de

Evonik Industries AG, Essen

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