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Annual Report 2023: Transform to perform

Annual Report

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Investor News

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  • Sustainability

    Covestro becomes a shareholder in company BioBTX

    Demonstration plant planned for new chemical recycling methodBioBTX recovers raw materials by recycling plastic wasteCovestro invests mid-single-digit million Euro amount

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  • Figures

    Covestro gets off to a solid start in fiscal year 2024

    Group sales of EUR 3.5 billion (–6.2%)  EBITDA of EUR 273 million (–4.5%)  Net income of EUR –35 million (previous year: EUR –26 million)  FOCF of EUR –129 million (previous year: EUR –139 million)  Guidance for full-year 2024 confirmed  Q2 2024: EB…

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  • Sustainability

    Covestro publishes climate neutrality targets for scope 3 emissions

    Reduction of 10 million metric tons of greenhouse gases produced in upstream and downstream supply chains (scope 3) by 2035, climate neutrality for scope 3 by 2050  Climate strategy for reducing greenhouse gases complete  Concrete plan for implement…

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  • Figures

    Transformation consistently advanced in challenging fiscal year

    Group sales of EUR 14.4 billion (–20%)  EBITDA of EUR 1.1 billion (–33.2%)  Positive free operating cash flow of EUR 232 million (+68.1%)  Climate neutrality strategy finalized with scope 3 target  Outlook for 2024: EBITDA between EUR 1.0 billion an…

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  • Sustainability

    World’s First Pilot Plant for Bio-Based Aniline

    Significant step toward producing plasticsbased on plant biomass  New process for petroleum-free raw material on its way to industrial maturity  Another milestone in the promotion of the Circular Economy accomplished 

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  • Sustainability

    Covestro and Encina reach an agreement for a long-term supply of circular raw materials

    Encina to supply Covestro with chemically recycled raw materials enabling circular MDI, TDI and polycarbonate starting at the end of 2027  Pioneering milestone for raw materials derived from end-of-life plastics  Recycled feedstock reduces carbon fo…

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  • Financials

    Covestro achieves EBITDA guidance for third quarter

    Group sales of EUR 3.6 billion (–22.7%)  EBITDA of EUR 277 million (–8.3%) meets guidance  Net income of EUR –31 million  Free operating cash flow rises to EUR 308 million (>100%)  Full-year guidance narrowed at the lower end of the ranges  New Chie…

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  • Corporate News

    Covestro launches mechanical recycling polycarbonate compounding line in China

    Shanghai facility is the inaugural dedicated line of its kind of Covestro with an annual capacity of 25,000 tons  Committed to supplying 60,000 tons of recycled-content polycarbonates annually in Asia Pacific by 2026  Expansive range of premium recy…

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  • Corporate News

    Covestro expands capacity for TPU films in Germany

    Capacity at Bomlitz site expanded  Investment in the low double-digit million Euro range  Global demand for TPU specialty films on the rise 

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  • Corporate News

    Covestro AG confirms decision to enter into open-ended discussions with Adnoc

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  • Corporate News

    Covestro appoints Christian Baier as new CFO, Dr. Thorsten Dreier to become Labor Director

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  • Corporate News

    Covestro starts new Elastomers plant in Shanghai

    Investment in the double-digit million Euro rangeNew plant one of several similar investments into the Elastomers business across the globeProducts can be used in offshore wind turbines and to manufacture photovoltaic panels, among others

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