Investor Relations
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
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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
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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 / Net income totals EUR 496 million, up 1.0% over prior year / Free operating cash flow down 12.2% to EUR 578 million due to increased investments / Cost savings targeted at EUR 350 million per year
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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
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Joint press release 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
moreGreater focus on sustainable product solutions and technologies:
MSCI upgrades sustainability rating of Covestro
moreUS Polycarbonates sheets business sold to Plaskolite
Covestro completes sale of US sheets business to Plaskolite
moreMoody's raises credit rating to Baa1 with stable outlook
Moody's upgrades Covestro
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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 / Net income rose by 24.8% to EUR 604 million / Free operating cash flow increased by 14.1% to EUR 364 million / Guidance for EBITDA, FOCF and ROCE raised
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