Covestro releases earnings, confirms full-year financial guidance

Slight increase in core business volume (+1%)

Group sales totaled approximately EUR 2 billion (- 19%)

· EBITDA of EUR 459 million, in line with expectations (-54%)

Net profit fell to EUR 189 million (- 67%)

Free operating cash flow of negative EUR 55 million

· EBITDA in the third quarter is expected to reach around 410 million euros

Based on its performance in the first half of 2019, Covestro confirmed its financial guidance for the current fiscal ye.

"The current economic situation remains challenging as global economic and political uncertainties remain," said CEO .

Covestro's key group figures for the second quarter of 2019

Covestro confirms financial guidance for 2019

In the first six months, company performance was well below the level of the previous year, as some product lines benefited from unusually high profit margins in 201

"The results for the first half of the year are in line with expectations in the current economic environme.

Covestro maintained its forecast for a mid-to-low-single-digit percentage increase in core business sales in fiscal 201 At the same time, it is expected that free operating cash flow will remain between 300 million and 700 million euros, and the return on capital employed will be between 8% and 1

Progress in Product Portfolio Optimization and Investments

In the second quarter, Covestro made further progress in improving its product portfol.

        At the same time, the Group continues to focus on making value-creating investmen.

        Sales growth in the core business of the polyurethane and polycarbonate segment

        In the Polyurethanes segment, core business sales increased by

        Sales volume of the core business of the polycarbonate business segment increased by 4% year-on-year, thanks to the growth of the electrical and electronic and construction industri.

        Core business sales in the Coatings, Adhesives and Specialty Chemicals business segment decreased by

        Competition intensifies in the first half of 2019

        Overall, market competition intensified in the first six months of 2019, in line with expectatio.

        About Covestro

        Covestro is one of the world's largest polymer producers, with sales of 16 billion euros in 201 Its business scope is mainly focused on the production of high-tech polymer materials and the development of innovative solutions for many areas of daily li.