BERLIN (dpa-AFX) - German specialty chemicals company Evonik Industries AG (EVK.DE) reported Friday that its first-quarter net income grew to 314 million euros from last year's 186 million euros.
Earnings per share were 0.67 euro, up from 0.40 euro a year ago.
Adjusted net income was 356 million euros or 0.76 euro per share, compared to prior year's 239 million euros or 0.51 euro per share.
Adjusted EBITDA climbed 25 percent from last year to 735 million euros, above expectations. Adjusted EBITDA margin, meanwhile, dropped to 16.3 percent from 17.5 percent last year.
Sales increased to 4.50 billion euros from prior year's 3.36 billion euros. Organic sales grew 26 percent thanks to higher demand and successful price increases.
Further, the company confirmed fiscal 2022 adjusted EBITDA between 2.5 billion euros and 2.6 billion euros, up from last year's 2.38 billion euros. Sales are still expected between 15.5 billion euros and 16.5 billion euros, higher than prior year's 15 billion euros.
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