-
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
Unusual 2020
Covestro concludes strongly
Looking back on 2020 bit by bit
We walked together like this
us">us">us">Core business sales fell 5.
6%Group sales of approximately 10.
7 billion euros (-13.
7%)EBITDA reached approximately 1.
5 billion euros, in line with forecasts (-8.
2%)Free operating cash flow increased to 530 million euros (+12.
1%)Proposed dividend of 1.
30 euros per share, new dividend policyStrategic adjustment, forge ahead on the road to achieve a full cycle
2021: Indicators for this fiscal year are expected to be higher than pre-epidemic levels
Persistent crisis prevention measures and demand recovery have helped Covestro achieve gains in 2020, especially in the second half of the year, and ended strongly in this special year.
In 2020, Covestro announced its march towards a full cycle.
In order to realize this long-term vision and integrate circular economy into all areas of business activities, the group decided to focus on four areas: alternative raw materials, innovative recycling, joint solutions and renewable energy com" href="http://">coating online coatingol.
com .
Continuous measures to ensure strong performance
us">us">In order to better respond to the new crown epidemic and ensure liquidity reserves, Covestro implemented a number of additional cost-cutting measures last year, and the group saved a total of 360 million euros in a short period of time.
At the same time, Covestro has also implemented various types of financing measures to combine financial instruments with its sustainable development performance as much as possible, reflecting its commitment to pursue sustainable development.
us">us">
Strategic Realignment:
The corporate vision becomes the guiding principle
In order to achieve the clear goal of a comprehensive cycle and to respond to changing market expectations, Covestro has adjusted its group strategy.
The core of this work is to strengthen customer orientation and sustainable growth.
From July 1, 2021, Covestro will introduce a new tailor-made architecture for business management, which includes seven business entities to better respond to customer needs and market competition.
us">
Functional materials: This field will form a separate business entity, covering standard polycarbonate, standard polyurethane raw materials and basic chemicals.
Solutions and specialty chemicals: The field will consist of six new business entities: customized polyurethanes, coatings and adhesives, engineering plastics, specialty films, elastomers and thermoplastic polyurethanes.
Covestro continues to adjust its product lines and processes according to customer needs, and will also pay more attention to achieving sustainable development in a profitable manner.
The Group will more strictly refer to sustainability standards when conducting investments, acquisitions and R&D activities in the future.
us">us">
The new dividend policy pays more attention to group profitability
Covestro is setting up a dividend distribution system on a new basis.
The new policy pays more attention to the group's profitability, and the dividend payout ratio will reach 35% to 55% of the group's net profit.
us">us">us">
Financial indicators for fiscal year 2021
Expected to be higher than the pre-epidemic level in 2019
us">Core business sales will increase by 10% to 15% (of which about 6 percentage points of growth will be contributed by the planned acquisition of DSM's resin and functional materials business)
Free operating cash flow of 900 million to 1.
4 billion eurosThe return on capital employed will be between 7% and 12%
EBITDA is between 1.
7 billion and 2.
The second half of 2020
Demand recovery in all business sectors
us">Affected by the new crown epidemic, the market demand of Covestro’s three major business units declined in the first half of the year.
However, in the second half of the year, with the sharp increase in business demand and favorable competitive situation, the sales volume of the core business of the polyurethane business segment increased, and the polycarbonate business The segment and the coatings, adhesives and specialty chemicals business segments achieved year-on-year growth in core business sales in the second half and the fourth quarter, respectively.
At the same time, measures such as cost reduction have had a positive impact on the EBITDA of each business segment.
us">us">
Transcript of the fourth quarter of 2020
Far exceeding the level of the same period of the previous year
544px; text-align: justify;'>The Group's core business sales increased by 1.
7% year-on-year
Group sales increase 5.
0% to 3 billion eurosEBITDA was 637 million euros, more than double the same period last year
Net profit rose sharply from 37 million euros in the fourth quarter of the previous year to 312 million euros
Free operating cash flow increased by 19.
4% to 394 million euros
2020 strong ending
Covestro looks forward to the new year
Continue to write a cyclical chapter with you
