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Evonik hikes mid-term organic growth target

FILE PHOTO: Flags of the specialty chemical manufacturer Evonik Industries flutter in the wind at a factory in Darmstadt

(Reuters) - German chemicals group Evonik is aiming for above 4% annual organic growth in the medium term, up from earlier target of over 3%, the company said on Wednesday.

It also targets a margin on adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of between 18% and 20%, Chief Financial Officer Ute Wolf said in a statement released ahead of the company's Capital Markets Day.

(Reporting by Karol Badohal and Bartosz Dabrowski in Gdansk; editing by Milla Nissi)

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