Based on preliminary figures, Evonik expects adjusted EBITDA of between 600 and 650 million euros in the second quarter. This would mean that operating earnings would be, on average, about 23 percent higher than the prior-year figure. As recently as early May, the company had projected a figure of at least 550 million euros.

Evonik cites several reasons for the significant jump in earnings: Demand has picked up, higher selling prices have been achieved, and the cost-cutting measures already implemented are having an effect. The Advanced Technologies segment, in particular, is currently benefiting from the fact that Asian competitors are able to supply only limited quantities due to problems with raw material supplies. In the animal nutrition business, the Group also expects this positive trend to continue in the third quarter.

Following a strong first half of the year, Evonik is now raising its full-year forecast. Adjusted EBITDA is expected to reach between 2.0 and 2.2 billion euros in 2026. Previously, the company had anticipated a range of 1.7 to 2.0 billion euros. By way of comparison, last year’s operating profit was around 1.9 billion euros.

However, the improved business performance does not alter management’s fundamental assessment: Evonik emphasizes that the European chemical industry continues to face significant competitive pressure. In addition, the currently favorable market conditions could weaken again as the year progresses if global supply chains normalize following the reopening of the Strait of Hormuz.

That is why the Group is consistently pushing ahead with its restructuring. The “Evonik Tailor Made” transformation program is being expanded and extended through 2029. Back in mid-June, the company had already announced that it would cut an additional 3,200 jobs worldwide, including about 2,150 in Germany. Combined with the program already underway—which calls for the elimination of approximately 2,800 jobs by the end of 2026—the total job cuts amount to more than 6,000 positions.

The Group is now taking this effort much further than it did at the start of the restructuring. While the initial focus was primarily on administration and management, the restructuring now also encompasses operations. Evonik aims to simplify structures, digitize processes, and permanently reduce its cost base.

Operations in the polyester business are to be phased out worldwide by 2027. Among the sites affected is the Witten facility, which employs 266 people. Jobs will also be lost in Marl and at the Shanghai facility in China.

At the same time, Evonik is restructuring its large integrated sites. The infrastructure and service divisions of the Marl and Wesseling chemical parks have been spun off into the new company Syneqt. In the future, approximately 3,500 employees will work there as part of an independent unit responsible for energy supply, logistics, security, and technical services.

Evonik plans to release its final second-quarter figures on August 4. However, it is already becoming clear that the company is once again posting significantly better earnings—though this will not change its far-reaching restructuring efforts for the time being.