ESSEN, Germany—Evonik A.G.'s Performance Materials segment, which produces polymer materials and intermediates mainly for the rubber and plastics industries, has posted an 11 percent drop in sales to about $920.8 million in the third quarter of 2015.
According to a press release by the German specialty chemicals company, in addition to two plant maintenance programs, selling prices were impacted by the persistently low oil price.
However, as a result of the reduction in the cost of oil-based feedstock, the segment reported a 4-percent improvement in adjusted EBITDA to about $100.9 million.
Evonik posted a consolidated 4-percent rise in its third quarter sales, with about $3.65 billion of sales, mainly driven by higher prices and positive currency effects.
The group's adjusted EBITDA climbed 31 percent to about $700.8 million in the third quarter, while for the first nine months, the figure increased 37 percent to about $2.1 billion.
Evonik said rising volumes—partly as a result of new capacity—slightly lower raw material costs, currency effects and higher selling prices were reasons for the increased revenue results.