Evonik Industries AG

EVK: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€94.00	Hgks	Qnsvqgycd

No-Moat Evonik Is Showing Signs of Sequential Earnings Improvement in a Challenging Environment

Diana Radu

Dec 6, 2023

Business Strategy and Outlook

Evonik is a German specialty chemical company that was publicly listed in 2013 by its majority owner, RAG-Stiftung, which still holds 59% of the shares. The company debuted as a conglomerate with energy and real estate divisions in addition to chemicals; however, those noncore businesses were quickly divested.

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