German chemicals group Evonik lifted its 2024 outlook on Friday, citing stronger pricing, higher volumes and cost cuts. The firm said supply‑chain snarls in Asia are hampering rivals, giving it a pricing edge. It now projects adjusted EBITDA of €2.0‑€2.2 billion, up from the previous €1.7‑€2.0 billion range. Competitors in China and South Korea face raw‑material bottlenecks, sharpening Evonik’s pricing advantage and margin outlook.

For Q2, Evonik expects adjusted EBITDA between €600 million and €650 million, ahead of the consensus estimate of €567 million from analysts. The company posted €509 million in the same quarter last year, indicating acceleration. Analysts had revised expectations after the firm’s guidance beat prior‑year performance of €1.9 billion annual EBITDA. The upbeat Q2 forecast lifted Evonik’s share price by 3% in early trading, reflecting investor confidence in the turnaround.

Evonik reaffirmed its cash‑conversion target of around 40%, above the 37% achieved in 2023. Management warned that easing global shipping rates could erode pricing power later in the year, leaving the second half more uncertain. The upgraded outlook nudges the firm’s earnings outlook higher, but investors must watch freight‑cost trends for any potential downside.