Evonik Industries (EVK) Company presentation summary

Strategic priorities and 2029 target

• Targeting ~11% ROCE by 2029 through earnings growth, efficiency gains, portfolio changes and tighter capital management.

• FY 2025 baseline: €14.1bn sales, €1.9bn adjusted EBITDA at 13.3% margin, €695m FCF, 37% cash conversion, 6.1% ROCE and €1.00 dividend per share.

• Innovation Growth Areas target €1.5bn additional sales by 2032 at >20% margin, focused on biosolutions, lightweight materials, batteries and circularity.

Growth and operating efficiency

• Phase two of Evonik Tailor Made launches in 2027–2029, with integrated optimization across administration and businesses to simplify operations, empower business units and control costs.

• Efficiency actions include business-model reviews, stronger sales effectiveness, business-line mergers, sourcing improvements, site consolidation and production transfers to larger hubs.

• Growth investments include a ~€50m siloxane capacity expansion in Essen, >€50m for a GMP facility in Slovenská Ľupča and ~€80m for biotechnology in Vancouver.

• Oxeno divestment was on track, with signing targeted in the coming months; a best-owner process for SYNEQT was to follow the Oxeno signing.

• Capex is expected at ~€750m in 2026 and ~€700m from 2027; investment approach shifts to lower-intensity, faster-return projects and a 50:50 growth-maintenance split.

Q3 2026 performance

• Sales were €3,825m; adjusted EBITDA reached €629m, up 40% YoY, with a 16.4% margin, up 3.2pp YoY.

• Adjusted EPS was €0.71 versus €0.27 in Q3 2025; capex cash outflows were €193m versus €181m, and FCF was €369m versus €300m.

• Custom Solutions adjusted EBITDA rose 7% YoY to €231m; Advanced Technologies increased 87% to €377m, while Infrastructure adjusted EBITDA increased 48%.

• Advanced Technologies benefited from strong High Performance Polymers volumes, Crosslinkers momentum and higher Animal Nutrition prices; Custom Solutions saw stronger oil and coating additives and catalyst businesses.