* Confirms outlook for 2014 core profit of 1.8-2.1 bln eur
* If prices for key products stay weak may be at the low end
* Q2 adj EBITDA at 473 mln eur vs poll avg of 472 mln eur
(Adds detail, background)
FRANKFURT, July 31 German diversified chemicals
maker Evonik on Thursday said a worse-than-expected
price trend in its Specialty Materials unit may result in a drop
in core profit for the full year.
The maker of feed additives, clear acrylic sheet and
high-tech plastics, controlled by a state-owned trust, said the
downward move in some key products had slowed perceptibly in
recent months and it expects this trend to continue.
But so far this positive trend did not apply to the
Specialty Materials segment, which makes polymer materials and
intermediates for the rubber and plastics industry, where prices
have remained below the original expectations, Evonik said.
If this should continue for the rest of the year, full-year
adjusted earnings before interest, tax, depreciation and
amortisation (EBITDA) will probably be in the lower range of its
guidance of between 1.8 billion euros ($2.4 billion) and 2.1
billion, the company said.
The group reported a 7 percent drop in second-quarter
adjusted EBITDA to 473 million euros, in line with analysts'
expectations of 472 million.
Group sales grew 1 percent to 3.25 billion euros, also in
line with analysts' expectations.
Germany's second-largest chemicals maker behind BASF
said it still expected 2014 sales to rise slightly.
In 2013, it posted sales of 12.7 billion euros.
Last week, BASF reported lower-than-expected earnings
growth, mainly due to negative currency effects.
($1 = 0.7466 Euros)
(Reporting by Kirsti Knolle; Editing by Harro ten Wolde and