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

EVONIK INDUSTRIES AG

(EVK)
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Evonik Industries : sells stake in Synoste to Globus Medical in successful venture capital exit

10/21/2020 | 04:25am EST

'The cooperation was very successful with Evonik supporting us in the development of our products and the growth of the company as a whole,' said Harri Hallila, managing director of Synoste.

Since Evonik Venture Capital's first investment in Synoste in December 2015, Evonik's High Performance Polymer business line has worked with the start-up to develop the best design for the implant, in which PEEK encases the electronics of the remotely controlled lengthening device.

'The deeper understanding of requirements for medical devices and of the regulatory approval process will help us with future projects,' said Marc Knebel, head of Medical Systems at the High Performance Polymers business line. 'We are excited about other potential medical applications for PEEK, which has the ideal properties to replace ever more metal implants.'

Globus Medical, based in Audubon, Pennsylvania, USA, is a leading medical device manufacturer. The company was founded in 2003 with the goal of improving the quality of life for patients with musculoskeletal disorders, which are injuries and disorders that affect the human body's movement or musculoskeletal system such as bones, muscles, tendons and ligaments.

Disclaimer

Evonik Industries AG published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 08:24:04 UTC


© Publicnow 2020
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Financials
Sales 2020 12 185 M 14 736 M 14 736 M
Net income 2020 570 M 689 M 689 M
Net Debt 2020 3 412 M 4 126 M 4 126 M
P/E ratio 2020 21,7x
Yield 2020 4,47%
Capitalization 11 969 M 14 460 M 14 475 M
EV / Sales 2020 1,26x
EV / Sales 2021 1,18x
Nbr of Employees 32 822
Free-Float 41,1%
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 26,86 €
Last Close Price 25,73 €
Spread / Highest target 28,3%
Spread / Average Target 4,38%
Spread / Lowest Target -22,3%
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Managers
NameTitle
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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