International. Evonik revealed that it increased its sales to 7.3 billion euros in the first half of 2017. The 15% increase compared to the first half of 2016 was partly due to the first consolidation of the special additives division of Air Products, a business acquired by Evonik last January.
The other reasons for the increase in sales were significant demand growth and slightly higher selling prices.
"The development of our business is within the goal," said Christian Kullmann, Chairman of the Executive Board. "In addition, we are reaping the first fruits of the largest acquisition in our history."
Adjusted EBITDA grew by 8% to €1.25 billion in the first half, driven primarily by more favorable results in the Resource Efficiency and Performance Materials segments. Revenue from the Nutrition & Care segment was lower than in the same period last year, primarily due to lower prices for animal nutrition additives.
Evonik further confirmed its forecast to increase both sales and operating profit in the full year of 2017. Adjusted EBITDA has yet to grow to a value between €2.2 billion and €2.4 billion (2016: €2.165 billion).
