International. Evonik increased its sales by 19% and reached 3,688 million euros in the first quarter of 2017. The main drivers of this considerable growth were the increase in demand, which increased sales volumes, and the inclusion – for the first time – of Air Products' special additives business.
"The great start to the year shows that we are on the right track with our growth strategy," said Klaus Engel, Chairman of the Executive Board. "The combination of organic growth and strategic acquisitions has strengthened the company. Evonik is on track to become less vulnerable to economic cycles and to have a more balanced portfolio. Demand for our specialty chemicals such as silica, coating additives and pharmaceutical ingredients increased revenue for the quarter."
Adjusted EBITDA grew by 8% to €612 million in the first quarter, driven by more favorable results in the Resource Efficiency and Performance Materials segments. Revenue from the Nutrition & Care segment was well below the prior-year period, mainly as a result of the reduction in the prices of animal nutrition products.
The company's adjusted net profit of €260 million remained at virtually the same level as the first quarter of the previous year, with an adjusted return of €0.56 per share. Net profit of €160 million was close to €80 million below last year's value. The drop was mainly due to one-off effects linked to the acquisition of Air Products' special additives division.
