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MarketScreener Homepage  >  Equities  >  Xetra  >  Evonik Industries AG    EVK   DE000EVNK013

EVONIK INDUSTRIES AG

(EVK)
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Evonik Industries : launches its own GAA-product GuanAMINO®

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09/14/2020 | 05:10am EDT
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September 14, 2020
Evonik launches its own GAA-product GuanAMINO®

Evonik has launched GuanAMINO®, its own guanidinoacetic acid-product (GAA) used to enhance energy metabolism in livestock production.

  • Evonik introduces new, own GAA product after former supplier terminated agreement
  • Fast-growing animals require creatine supplementation via addition to the feed
  • GuanAMINO® is the best supplemental creatine source

Essen/Germany. Evonik has launched GuanAMINO®, its own guanidinoacetic acid-product (GAA) used to enhance energy metabolism in livestock production.

The launch of GuanAMINO® comes almost two years after Evonik's former supplier terminated its agreement, although Evonik continued to supply its customers until at least the end of 2018. The end of the previous arrangement opened options for Evonik to further develop the use of GAA in animal nutrition and supply the global market with its own GAA product.

GuanAMINO® provides farm animals with the natural creatine precursor GAA, which supplies creatine in the best way to animals, improving their performance, ensuring optimal nutrient utilization and therefore return over feed costs.

'GuanAMINO® is the best supplemental creatine source due to its outstanding stability in feed processing and high bioavailability to the animal. Adding GuanAMINO® to the feed closes the gap in creatine supply, thereby increasing the efficiency and effectiveness of nutrition and optimizing production costs of farm animals,' says Dr. Torben Madsen, Head of Product Line Sustainable Healthy Nutrition at Evonik Animal Nutrition.

'We are proud to achieve this major milestone on our continuous way to provide our customers the best solutions for their individual needs. With GuanAMINO®,we offer our customers the best creatine source and therefore another performance enhancing solution in our portfolio for sustainable, animal protein free diets,' says Dr. Madsen.

Creatine is vital for vertebrates as it contributes to ensuring that high energy demanding cells (particularly muscles) are supplied sufficiently. With the addition of GuanAMINO® to animal feed, the feed conversion in livestock production can be improved significantly.

In the body, creatine is formed through methylation of GAA, which itself is formed from the amino acids glycine and arginine. However, in fast-growing animals it is estimated that only around two-thirds of the required daily need for creatine is covered by the body's own synthesis. The rest must be supplied via addition to the feed.

GuanAMINO® is granulated, virtually dust free, free flowing and has handling characteristics which make for easy usage in daily operations.

Company information

Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €13.1 billion and an operating profit (adjusted EBITDA) of €2.15 billion in 2019. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers. More than 32,000 employees work together for a common purpose: We want to improve life, today and tomorrow.

About Nutrition & Care

The focus of the business of the Nutrition & Care division is on health and quality of life. It develops differentiated solutions for active pharmaceutical ingredients, medical devices, nutrition for humans and animals, personal care, cosmetics, and household cleaning. In these resilient end markets, the division generated sales of around €2.92 billion in 2019 with about 5,300 employees. It is part of Evonik Operations GmbH.

Disclaimer

In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.

Disclaimer

Evonik Industries AG published this content on 14 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2020 08:09:09 UTC


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Sales 2020 12 245 M 14 293 M 14 293 M
Net income 2020 552 M 645 M 645 M
Net Debt 2020 3 206 M 3 742 M 3 742 M
P/E ratio 2020 17,4x
Yield 2020 5,54%
Capitalization 9 657 M 11 260 M 11 272 M
EV / Sales 2020 1,05x
EV / Sales 2021 1,01x
Nbr of Employees 32 621
Free-Float 41,1%
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Average target price 26,84 €
Last Close Price 20,76 €
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Christian Kullmann Chairman-Executive Board
Bernd Tönjes Chairman-Supervisory Board
Ute Wolf Chief Financial Officer
Andreas Fischer Chief Innovation Officer
Siegfried Luther Independent Member-Supervisory Board
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