UPDATE 1-Germany's Evonik confirms 2019 guidance despite gloomy economy, weaker Q3

German chemicals group Evonik Industries on Tuesday reported a drop of 6% in its third-quarter adjusted core profit, citing a global economic slowdown, but was able to confirm its full-year earnings guidance.

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, excluding its methacrylates unit, the maker of plastics for clear acrylic sheet it sold to buyout group Advent in August.

"We prepared ourselves at an early stage with stricter cost discipline and additional contingency measures for a cooling global economy," Chief Executive Christian Kullmann said in a statement, adding that the company was very proactive to ensure it met its full-year outlook. In July, Kullmann said Evonik was less exposed to economic cycles, thanks to its strategy of investing in areas with stable growth prospects and selling off cyclical businesses at the right time.

The company has not yet taken the $625 million purchase of bleaching agents maker PeroxyChem into account for the guidance, as the proposed merger was put on hold by a decision of the U.S. Federal Trade Commission, and will be negotiated on Jan. 2. The guidance confirmation comes against a backdrop of a slowing economy and market uncertainty caused by trade coflicts, which led German chemical industry body VCI in September to cut its 2019 sales outlook for the sector for the second time this year.

Germany is Europe's largest chemical producing nation. Evonik shares have been up 8.5% so far this year, lagging peers such as Lanxess, BASF and DSM. ($1=0.8990 euros)