Business & Finance

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


Continuity at the Covestro Board of Management

Covestro renewed contract with Board of Management member Dr. Klaus Schäfer


Commitment to MDI market:

Covestro continues production at Tarragona site

Investment of around EUR 200 million / Debottlenecking to increase MDI capacity to 220,000 metric tons / Own chlorine production to be established


Covestro strengthens its Board of Management

Dr. Thomas Toepfer to be new Chief Financial Officer of Covestro


Focusing on specific customer benefit

Covestro fosters digital transformation

Innovative solutions for production, research, sales, business models / Up to one billion Euro in sales on digital commerce chemistry platform


Strongest quarter in company’s history

Covestro raises the bar and announces share buyback

Group sales rise 16.9% to EUR 3.5 billion / Core volumes up 2.6% over prior-year quarter / EBITDA climbs 50.2% to EUR 862 million / Net income grows 89.6% to EUR 491 million / Free operating cash flow increases 1.9% to EUR 658 million / EUR 1 billion in sales via online platform announced / Share buyback of up to EUR 1.5 billion of stock capital


Strong signal from the workforce

Covestro wins the German Chemistry Award 2017

Company honored for exemplary and sustainable HR performance / Award decision based on a survey of managers / Prize serves as an expression of employees’ faith in the company / Covestro honored for the second time by the VAA


Chemical industry will use waste gas from steel factories to make plastics

Europeans join forces on CO2

Research project launched with 14 partners from seven countries / EU supports development of a particularly sustainable process


First place in global ranking

Covestro named ICIS Company of the Year


Covestro and “Sonnenwagen Aachen” team up for solar race in Australia

Innovative materials for electric mobility

World’s toughest solar car race / Covestro and PPG test automotive coatings in extreme climate / Longstanding partnership with RWTH Aachen University