C4 plant at Evonik's Antwerp site back in operation
Essen, Germany. The C4 integrated production facility at the Antwerp site was successfully restarted early June. Thanks to the extraordinary performance of the operating team, it has been back in normal operation since mid-June.
On May 7, 2017, there was an incident in the plant, which is part of the Performance Intermediates Business Line. As a result of the production outage, force majeure was declared on May 9, 2017. The force majeure declaration could be lifted on June 13, 2017.
The financial impact is covered by insurance. For the Evonik Group, a deductible payment of around -20 € million remains, which will be fully reported in second quarter results. The smaller share of the deductible payment is attributable to the Performance Materials segment, the larger share to the Services segment.
Even considering these effects, Evonik is expecting the Performance Materials segment to report a strong second quarter in 2017, at least on previous quarter levels. For the Group as a whole, Evonik continues to expect another sequential increase in adjusted EBITDA in the second quarter compared to the first quarter.
Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-orientated innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions.
Evonik is active in over 100 countries around the world with more than 35,000 employees. In fiscal 2016, the enterprise generated sales of around €12.7 billion and an operating profit (adjusted EBITDA) of about €2.165 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.