German chemical companies Henkel and Evonik reported a decline in revenue
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Today, March 4, the German chemical concern Henkel reported that its revenue in 2023 decreased by 3.9% and amounted to €21.5 billion. Operating profit for the year increased by 10.2%, to €2.6 billion. The decrease in Henkel’s revenue is due to currency fluctuations, as well as with the sale of the Russian division in April last year for €500 million. The concern predicts a slowdown in organic sales in the current financial year.
Today for 2023 reported another German chemical company is Evonik. Its revenue for the year fell by 17%, to €15.3 billion. The company ended the year with a net loss of €465 million – against a profit of €540 million a year earlier. Evonik said it does not expect a recovery this year. The company announced the reduction of 6% of employees – about 2 thousand people – by 2026 in order to reduce costs by €400 million.
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