Germany's Evonik Q3 core profit falls on gloomy economy

German chemicals group Evonik Industries on Tuesday reported a 6% drop in its third-quarter adjusted core profit, citing global economic slowdown. Third-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, dropped to 543 million euros ($604 million), but slightly above the average estimate of 537 million euros in a company-provided poll.

Evonik confirmed its full-year outlook of adjusted EBITDA to at least reach last year's level of 2.15 billion euros, specifying that it is now expecting a level of about 700 million euros. The outlook excludes the company's methacrylates unit - manufacturer of plastics for clear acrylic sheets - which was sold to buyout group Advent in August.

($1 = 0.8990 euros)