|Bid||16.58 x 0|
|Ask||17.43 x 0|
|Day's range||17.00 - 17.46|
|52-week range||17.00 - 29.72|
|Beta (5Y monthly)||1.32|
|PE ratio (TTM)||8.42|
|Forward dividend & yield||1.17 (6.70%)|
|Ex-dividend date||27 May 2022|
|1y target est||N/A|
Germany's Evonik Industries is working on ways to help recycle lithium from electric car batteries and limit the need for crop fertilisers as part of an innovation drive already tipped to add 1 billion euros ($998 million) to sales in the 10 years to 2025. At its innovation conference on Thursday, the speciality chemicals company said it saw electric vehicles, food production and meat testing as three particularly interesting fields. According to Evonik, up to 95% of the lithium in lithium-ion electric vehicle batteries is not being recycled, mainly due to high costs.
Evonik, which makes ingredients for products ranging from animal feed and diapers to Pfizer/BioNTech's COVID-19 vaccine, reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 728 million euros ($743 million) in the three months to June 30, up 12% on the year and above analysts' forecast of 700 million in a company-provided poll. Evonik said on Monday it was substituting up to 40% of natural gas at its German sites with alternative sources including liquefied petroleum gas and coal, while energy supplies to its sites abroad were largely independent of gas supplies from Russia. Evonik's free cash outflow was 239 million euros in the quarter against an inflow of 101 million last year, due to a build-up in net working capital caused by increased raw material prices and higher inventory levels.
German chemical companies, which are highly dependent on Russian gas imports, are scrambling to prepare for further gas supply cuts in response to Western sanctions imposed following Russia's invasion of Ukraine. "The energy supply at our European sites is thus largely secured, even in the event of a Russian gas stop," he added.