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Evonik Industries profit misses consensus by 20.9% in Q2

Evonik Industries AG said its normalized net income for the second quarter was 46 euro cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.

EPS rose year over year from 44 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €215.0 million, an increase from €207.0 million in the prior-year period.

The normalized profit margin declined to 5.9% from 6.4% in the year-earlier period.

Total revenue grew 10.9% on an annual basis to €3.61 billion from €3.26 billion, and total operating expenses rose 13.5% year over year to €3.23 billion from €2.84 billion.

Reported net income grew 39.8% from the prior-year period to €232.0 million, or 49 cents per share, from €166.0 million, or 35 cents per share.