14 Aug 2023 --- Evonik, Germany’s second-largest chemicals company, posted an adjusted EBITDA of €450 million (US$492 million) in the second quarter of 2023 alongside a negative free cash flow and net loss. The company’s adjusted EBITDA fell by 38% when compared with Q2 2022. However, the adjusted EBITDA improved compared with the first quarter of €409 million (US$447 million). The earnings were reportedly buoyed by “strict cost-cutting measures.” The cost cuts were made to safeguard gains since the second half of 2022.
