Cosco's second-quarter revenue fell 16.9% year-on-year

Covestro's second-quarter results, released on July 24th, showed second-quarter revenues fell 16.9 per cent year-on-year to 3.2bn euros, while earnings before interest, tax and tax (EBITDA) fell 53.4 per cent to 459m euros.
said the decline in profits was mainly due to lower margins in the polyurethane and polycarbonate sectors. Net profit fell to EUR 189 million as a result of reduced cash flow from operating activities and increased investment, while free operating cash flow was EUR 55 million

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business segment grew 0.7 percent. Sales in the sector fell 24.3 per cent to EUR 1,489 million due to increased competition in the market and lower sales prices. Its EBITDA was also affected by lower sales prices, to 172 million euros (-70.5%).
business segment increased 4.4% year-on-year, helped by growth in the electrical, electronic and construction sectors. However, sales from the automotive industry's core business fell. In the second quarter of 2019, sales in this segment decreased by 15.0% to EUR 898 million. EBITDA in the polycarbonate sector fell 46.0 percent to 154 million euros due to lower sales prices.
4.7 per cent in the core business segments of the Coatings, Adhesives and Specialty Chemicals segment. As a result, sales also fell 1.3 per cent to 621 million euros. However, currency changes and Covestro's increased stake in Japan's DIC Covestro Polymer Ltd. had a positive impact on the sector's performance. The increase in its stake in the Japanese joint venture had a non-recurring positive impact on EBITDA, which grew by 7.9% to EUR 150 million in the second quarter of 2019.