Articles tagged with 'Business & Finance' | Covestro

The Board of Management of Covestro AG has today decided, in view of the interest in Covestro expressed by Abu Dhabi National Oil Company (Adnoc), to enter into open-ended discussions with Adnoc. Whether, in which form and, if applicable, at which co...

• Huafeng developed more sustainable HAPTIC® textile coating solution based on Covestro’s partly bio-based Impranil® CQ DLS/1 PU dispersion • New textile coating solution was used to produce official shorts and shoes of Team Sonnenwagen solar car pro...

The Supervisory Board of Covestro has unanimously appointed Christian Baier as its new Chief Financial Officer (CFO). He will take over from Dr. Thomas Toepfer on October 1, 2023. Dr. Toepfer will leave the company as of August 31, 2023, and Covestro...

Group Sales of EUR 3.7 billion (–20.9%)EBITDA of EUR 385 million (–29.6%)Net income totals EUR 46 million (–76.9%)Free operating cash flow rises to EUR –10 millionFull-year results expected to be rather at lower half of the guidanceQ3 2023: EBITDA be...

Covestro digitalizes product-specific life cycle assessments (LCA)Environmental data for approx. 50,000 intermediates and finished products. Validation by end of 2024 so that data for finished products available for customers gradually in 2024Covestr...

Long-term agreement signed with Ørsted as part of its planned Mockingbird Solar Center in Texas, U.S.Covestro’s 90MW share of renewable energy estimated to offset 70,000 tons of CO2 emissions at its Baytown, Texas, site annually, starting in late 202...

Group Sales of EUR 3.7 billionEBITDA of EUR 286 million far surpasses expectationsNet income totals EUR –26 millionFree operating cash flow of EUR –139 millionQ2 2023: EBITDA between EUR 330 million and EUR 430 million expectedFull-year guidance adju...

Actions of the Board of Management and Supervisory Board ratifiedDividend: no payout for fiscal 2022 New Board of Management member Dr. Thorsten Dreier presented Dr. Markus Steilemann: Strategy provides strong foundation, product portfolio gradually ...

Here you will find all the important documents relating to our Annual General Meeting 2023 at a glance: Our press release, the speeches, the link to the live broadcast as well as downloadable images and further links....

In the course of preparing Covestro’s group accounts for the first quarter 2023, preliminary financial figures deviate from capital market expectations, based on the average values of latest consensus estimates of financial analysts, published by Var...

Covestro has successfully completed the sale of its Additive Manufacturing Business to the 3D printing company Stratasys as of April 3, 2023. The Group had announced in August 2022 that it would sell the Additive Manufacturing Business for a selling ...

Investment in the higher double-digit million euro rangeCompletion planned by 2025Applications in ID card, automotive and electronics industriesGrowing range of more sustainable films

Group Sales total EUR 18.0 billion (+13.0%)EBITDA of EUR 1.6 billion (–47.6%)Positive free operating cash flow of EUR 138 million (–90.3%)Greenhouse gas emissions fall to 4.7 million metric tons (–9.6%)Circular economy and climate neutrality more imp...

Find all documents at a glance here: Our press release on the results for fiscal 2022, the presentation of the Annual Press Conference, the link to our Annual Report 2022 as well as images and further information....

New site to be built in Zhuhai, South China, with an annual capacity of 120,000 tons of TPU per year after final phase of expansionExpansion to happen in three phases: First phase to be completed in late 2025, final phase to be completed in 2033Total...

The Supervisory Board of Covestro has today acceded to the request from CFO and Labor Director Dr. Thomas Toepfer for the early termination of his current contract, which expires on March 31, 2026. Dr. Toepfer will leave the company as of August 31, ...

First world-scale plant based upon energy efficient ODC technologyNew plant strengthens European MDI production network of CovestroInvestment of 200 million euros creates 50 new jobs in Tarragona

In the course of preparing Covestro’s group accounts for fiscal year 2022, preliminary full-year financial figures deviate from capital market expectations, based on the average values of latest consensus estimates of financial analysts, published by...

New research group launchedProgress in extracting chemicals from plantsFurther stimulus for the circular economy

Covestro successfully issued its first green euro bond with a total volume of EUR 500 million on the capital markets on November 8, 2022. The bond has an annual interest coupon of 4.75 percent and matures in November 2028 with a term of six years. Du...

Economic conditions require project reassessmentMDI remains a growth market long-termNo fundamental investment stop

Group Sales rise to EUR 4.6 billion (+7.3%)EBITDA of EUR 302 million (–65.0%)Net income total EUR 12 million (–97.5%)Free operating cash flow (FOCF) falls to EUR 33 million (–91.3%)Full-year guidance for 2022 narrowedFurther milestones on the path to...

Covestro issued its first-ever Schuldschein debt instrument on October 7, 2022. The Schuldschein is linked to an environment, social, governance (ESG) rating. It was issued in tranches comprising fixed and variable interest-rates with terms of three,...

The Supervisory Board of Covestro has appointed Dr. Klaus Schäfer as a member of the Board of Management for an additional period of six months until the end of June 2023. In view of the major geopolitical uncertainties, the Supervisory Board had ask...

Business provides material solutions for common polymer 3D printing processesSale includes R&D facilities, offices and employees in Europe, U.S. and ChinaNew ownership by Stratasys expected to achieve faster growth...

Group sales rise to EUR 4.7 billion (+18.9%)EBITDA of EUR 547 million (–33.0%) above own guidanceNet income totals EUR 199 million (–55.7%)Free operating cash flow (FOCF) falls to EUR –462 millionFull-year guidance 2022 adjustedContinued focus on the...

Covestro reduces its forecast for EBITDA, free operating cash flow (FOCF), return on capital employed over weighted average cost of capital (ROCE over WACC) and greenhouse gas emissions, measured via CO2 equivalents, for fiscal year 2022. This is a c...

New lines for polyurethane dispersions and elastomers to meet rising demandTotal investment of a mid-double-digit million euro amountNew plants increase the scale of the largest production site of Covestro...

Group sales rise to EUR 4.7 billion (+41.6%)EBITDA of EUR 806 million (+8.5%)Net income amounting to EUR 416 million (+5.9%)Free operating cash flow of EUR 17 million (–94.7%)Further steps toward a circular economy and climate neutralityReduced earni...

Covestro reduces its forecast for EBITDA, free operating cash flow (FOCF), return on capital employed over weighted average cost of capital (ROCE over WACC) and greenhouse gas emissions, measured via CO2 equivalents, for fiscal year 2022. This is a c...