The financial crisis has taken its toll on the “Performance Polymers” division of Evonik Industries (Essen / Germany; www.evonik.com). The segment, which manufactures MMA monomers, PMMA slabs and engineering thermoplastics including PEEK, reported a sales decline of 20% during financial 2009, down to EUR 1.1 bn. EBIT dropped to a negative EUR 19m – in 2008 it still stood at EUR 43m.

During the first half of 2009, especially, demand from the automotive and construction industry took a nosedive. In reducing costs, Evonik’s plastics business was only partially able to offset the decline in volumes. Volumes recovered slightly in June as a result of increased demand for PMMA moulds for flat screens and special engineering thermoplastics applications.

At the end of last year, Evonik’s Performance Polymers division began operating its 100,000 t/y MMA plant in Shanghai / China – see Plasteurope.com of 30.11.2009. The plant manufactures MMA from C4, which is not only cheaper, but also allows for more flexibility in the choice of feedstock, Evonik said. The Performance Polymers segment is part of the group’s chemical business, which recorded sales of about EUR 10 bn in 2009, accounting for 76% of total group sales.

By contrast, the group’s “Coatings & Additives” division saw sales drop to EUR 1.3 bn (2008: EUR 1.5 bn). At EUR 182m, EBIT was a little below that of 2008 (EUR 194m). Sales in the “Inorganic Materials” division dropped by 18% to EUR 1.8 bn. Evonik currently is considering whether to divest its carbon black business.

e-Service:
Evonik press release on key financial data 2009 as a PDF document (118 KB)