-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
Covestro has raised its forecast for EBITDA, free operating cash flow (FOCF) and return on capital (ROCE) for fiscal 2021 due to a further improvement in the business outlook in the second half of the year
.
The new expectations exceed previously provided forecasts as well as current capital market expectations
.
The outlook takes into account the acquisition of DSM's Resins and Functional Materials (RFM) business, which was completed on April 1, 2021
.
Capital market expectations are based on the average of the latest consensus estimates from financial analysts published by Vara Research on July 7, 2021
.
Covestro adjusts its forecast for fiscal 2021 as follows:
EBITDA is expected to be between 2.
7 billion euros and 3.
1 billion euros
.
Previous forecasts had expected between 2.
2 billion and 2.
7 billion euros
.
The revision to the forecast is primarily due to a further improvement in the margin outlook in the second half
.
Consensus expected this figure to be 2.
611 billion euros
.
Growth in core volumes is expected to remain unchanged at between 10% and 15%, with about 6 percentage points attributable to the acquisition of the resins and functional materials (RFM) business
.
Free operating cash flow (FOCF) is expected to be between EUR 1.
6 billion and EUR 2 billion
.
Previous forecasts had projected free operating cash flow between 1.
3 billion euros and 1.
8 billion euros
.
The revisions to the forecast were mainly due to an increase in the EBITDA forecast and a lower forecast for working capital
.
Consensus expected this figure to be 1.
362 billion euros
.
Return on capital (ROCE) is expected to be between 16% and 20%
.
Previous forecasts had projected an ROCE of between 12% and 17%
.
The revision to the forecast is mainly due to an increase in the forecast for EBITDA
.
The increased EBITDA forecast is based on preliminary EBITDA of around 815 million euros in the second quarter of 2021, which is in line with the current forecast of between 730 million and 870 million euros
.
Consensus expected this figure to be 828 million euros
.
