Archive 2018

December 05, 2018
Buyback program completed around half a year earlier than planned
Covestro concludes share buyback of EUR 1.5 billion
Around 10% of capital stock bought back / Acquired shares will be retired and capital stock reduced by EUR 19.5 million / Board of Management aims to lay foundations for further buybacks more
November 29, 2018
Further strengthening of global TPU business
Covestro becomes majority stakeholder in DIC Covestro Polymer joint venture in Japan
Covestro raises stake from 50% to 80% / Partnership with DIC Corporation continues / Acquisition as part of Covestro's global growth strategy more
October 25, 2018
Full year guidance confirmed
Solid results in an increasingly challenging market environment
Group sales up 4.8% to EUR 3.7 billion / Core volumes remain stable / EUR 859 million EBITDA at previous year's level / Earnings per share rose by 6.6% to EUR 2.59 / Free operating cash flow down 12.2% to EUR 578 million due to increased investments / Cost savings targeted at EUR 350 million per year more
October 09, 2018
Global capacity expansion to strengthen leading position in MDI
Covestro to invest EUR 1.5 billion in new world-scale MDI plant in Baytown, USA
Highly attractive MDI market with long-term growth prospects / New 500 kilotons MDI plant to satisfy demand and accompany industry growth / NAFTA MDI capacity to reach 740 kilotons per year by end of 2024 / Extending Covestro's regional and global MDI leadership position more
September 04, 2018
Joint news of LyondellBasell and Covestro
LyondellBasell and Covestro kick off investment project in Maasvlakte-Rotterdam
Innovative new technology realizes annual reduction of up to 140,000 metric tons CO2 emissions more
July 26, 2018
Plans to increase investment for further growth
Covestro raises guidance after a strong second quarter
Group sales improved by 10.4% to EUR 3.9 billion / Core volumes up 4.4% / EBITDA grew by 16.2% to EUR 985 million / Earnings per share rose by 28.5% to EUR 3.07 / Free operating cash flow increased by 14.1% to EUR 364 million / Guidance for EBITDA, FOCF and ROCE raised more
July 18, 2018
Capacity expansion at four locations
Covestro strengthens its global film production
Total investment of more than 100 million euros / Over 100 new jobs planned / Innovative applications in various industries / In focus: multilayer flat films more
April 26, 2018
Group sales and EBITDA up significantly in the first quarter
Covestro well on track
Group sales grew by 5.4% to EUR 3.8 billion / Core volumes stable at a high level / EBITDA up around a quarter to nearly EUR 1.1 billion / Net income rose by 37.6% to EUR 644 million / Free operating cash flow increased by 72.5% / On track for fiscal 2018: guidance confirmed more
April 13, 2018
Announced change at the top management of Covestro brought forward
Patrick Thomas to hand over CEO position to Dr. Markus Steilemann on June 1, 2018
Patrick Thomas retires on May 31, 2018, by mutual agreement / Supervisory Board thanks Patrick Thomas for a highly successful transformational development in his leadership decade / Dr. Thomas Toepfer in office as CFO since April 1, 2018 more
April 13, 2018
Annual General Meeting in Bonn:
Covestro significantly raises dividend
Patrick Thomas hands over CEO position to Dr. Markus Steilemann on June 1 more
March 22, 2018
Continued optimization of asset base:
Covestro sells its Polycarbonates sheets outlet in the USA
Outlet sold to acrylics sheets manufacturer Plaskolite / Business to be continued under new owner / Remaining regional outlets under review to optimize portfolio more
March 06, 2018
Fast entry to the most important German equity index
Covestro to become a DAX member
Inclusion effective as of March 19, 2018 / Significant increase in free float and market capitalization since IPO more
February 20, 2018
Innovation and sustainability as growth drivers:
Covestro continues its profitable growth path with a record year
Group sales grew 18.8% to EUR 14.1 billion / EBITDA increased 70.6% to EUR 3.4 billion / Net income more than doubled to EUR 2.0 billion / Record in free operating cash flow - EUR 5.0 billion now until 2019 / Dividend proposal: EUR 2.20 per share / Positive forecast for 2018 more
January 15, 2018
Positive impact on group tax rate
Covestro expects positive effect from recently enacted U.S. tax reform
Positive one-time effect of ca. EUR 85 million on net income expected in 2017 / Additional positive impact on coming years more
Q3 2019 Interim Statement
Released on October 28, 2019. Details
Annual General Meeting 2019
All information and documents for the Annual General Meeting on April 12, 2019. Details