Evonik Industries AG cut its 2026 sales forecast by €500 million at the midpoint on Wednesday, reducing the range to €13.5-14.5 billion from €14-15 billion. The company maintained its adjusted EBITDA guidance at €1.7-2 billion, even as full-year 2025 results met expectations. Evonik reported adjusted net income rose 18% to €634 million, though free cash flow declined and return on capital fell below its medium-term target. The proposed 2025 dividend of €1 per share is a transition payment before a new policy linking distributions to 40-60% of adjusted net income takes effect in 2026. Both main business segments weakened, with Infrastructure sales dropping 22% to €2.45 billion.