09.10.2020 Covestro AG  DE0006062144

DGAP-Adhoc: Covestro AG: Preliminary EBITDA of EUR 456 million in Q3 2020 above market expectation; FY 2020 outlook updated


 

DGAP-Ad-hoc: Covestro AG / Key word(s): Preliminary Results/Change in Forecast
Covestro AG: Preliminary EBITDA of EUR 456 million in Q3 2020 above market expectation; FY 2020 outlook updated

09-Oct-2020 / 13:45 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


In the course of preparing the Q3 2020 interim statement for Covestro Group, preliminary Q3 key financial data deviate from capital market expectations, based on the average values of latest consensus estimates of financial analysts, published by Vara Research on October 7, 2020.
 
Therefore, Covestro provides already today the following preliminary key financial data from the Q3 2020 interim statement:
 
  • Preliminary EBITDA amounts to EUR 456 million. Consensus expects this number to be EUR 373 million. The difference is mainly driven by higher cost containments as well as a stronger volume growth and a better margin development.

    Preliminary EBITDA for the Polyurethanes segment amounts to EUR 220 million, for the Polycarbonates segment to EUR 148 million and for the Coatings, Adhesives, Specialties segment to EUR 99 million.
     
  • Preliminary core volume growth compared to prior year amounts to +3.0%. The recovery from the effects of the coronavirus pandemic has developed more dynamically than so far anticipated.
     
  • Preliminary sales amount to EUR 2,760 million. Consensus expects this number to be EUR 2,847 million.

    Preliminary effects on sales amount to +0.9% by volume, -9,0% by price, -3.3% by exchange rates and -1.4% by portfolio.

    Preliminary sales for the Polyurethanes segment amount to EUR 1,315 million, for the Polycarbonates segment to EUR 801 million and for the Coatings, Adhesives, Specialties segment to EUR 495 million.
     
The Q3 2020 interim statement will be published on October 27, 2020.

As a consequence of the better than expected Q3 2020 results and a better than expected operational start into Q4 2020 Covestro adjusts its guidance for full year 2020 as follows:
 
  • EBITDA is expected at around EUR 1.2 billion. The previous guidance projected an EBITDA between EUR 700 million and EUR 1,200 million. The adjustment of the guidance is primarily due to higher cost containments, a stronger volume growth and a better margin development for the full year. Consensus expects this number to be EUR 1,005 million.
     
  • Core volume growth is expected - unchanged - to be below previous year (in 2019: +2.0%).
     
  • Free operating cash flow (FOCF) is expected between EUR 0 million and EUR 300 million. The previous forecast projected FOCF between EUR -200 million and EUR 300 million. The adjustment of the guidance is mainly the result of an increased forecast for EBITDA as well as partly compensating effects from working capital. Consensus expects this number to be EUR 185 million.
     
  • Return on capital employed (ROCE) is expected in the mid-single-digit percent range. The previous forecast projected ROCE between -1% and 4%. The adjustment of the guidance is mainly the result of the increased forecast for EBITDA.

The 2020 annual report will be published on February 23, 2021.
 
 
Forward-looking statements
This ad-hoc statement may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Contact for investors:
Ronald Köhler, Head of Investor Relations
Phone: +49 214 6009 5098
E-mail: [email protected]

Contact for media:
Lars Boelke, Global Corporate Media Relations
Phone: +49 214 6009 4206
E-mail: [email protected]
 
 

09-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Covestro AG
Kaiser-Wilhelm-Allee 60
51373 Leverkusen
Germany
Phone: +49 (0) 214 60095098
Fax: +49 (0) 214 60097002
E-mail: [email protected]
Internet: www.covestro.com
ISIN: DE0006062144
WKN: 606214
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1139946

 
End of Announcement DGAP News Service

1139946  09-Oct-2020 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 14.138,00 14.616,00 12.412,00 10.706,00 15.903,00 17.968,00 14.377,00
EBITDA1,2 3.435,00 3.200,00 1.604,00 1.472,00 3.085,00 1.617,00 1.080,00
EBITDA-Marge3 24,30 21,89 12,92 13,75 19,40 9,00
EBIT1,4 2.808,00 2.580,00 852,00 696,00 2.262,00 267,00 186,00
EBIT-Marge5 19,86 17,65 6,86 6,50 14,22 1,49 1,29
Jahresüberschuss1 2.017,00 1.829,00 557,00 454,00 1.619,00 -281,00 -202,00
Netto-Marge6 14,27 12,51 4,49 4,24 10,18 -1,56 -1,41
Cashflow1,7 2.361,00 2.376,00 1.383,00 1.234,00 2.193,00 970,00 997,00
Ergebnis je Aktie8 9,93 9,46 3,02 2,48 8,37 -1,42 -1,05
Dividende8 2,20 2,40 2,40 1,30 3,40 0,00 1,35
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

INVESTOR-INFORMATIONEN
©boersengefluester.de
Covestro
WKN Kurs in € Einschätzung Börsenwert in Mio. €
606214 50,240 Halten 9.495,36
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
19,32 15,18 1,27 13,11
KBV KCV KUV EV/EBITDA
1,44 9,52 0,66 11,80
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00 17.04.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
30.04.2024 30.07.2024 29.10.2024 29.02.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
2,53% 2,32% -4,63% 35,97%
    
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu Covestro AG  ISIN: DE0006062144 können Sie bei EQS abrufen


Chemie , 606214 , 1COV , XETR:1COV