DGAP-Adhoc: Covestro AG: Covestro adjusts FY 2020 financial guidance due to effects of the Coronavirus pandemic after reaching its EBITDA target in Q1 2020
DGAP-Ad-hoc: Covestro AG / Key word(s): Change in Forecast
Covestro has been actively executing its crisis management plans in response to the global spread of the coronavirus pandemic and adjusting business operations according to local developments. The Board of Management has taken early and decisive actions to adapt the company to the current conditions, to protect the health of all Covestro employees, to ensure the ability to deliver to customers and to secure its strong liquidity position.
As a consequence of the coronavirus pandemic and the increasingly adverse business environment, the provided outlook cannot be upheld. The Board of Management therefore provides the following adjustments to the Group financial guidance for 2020:
Forward-looking statements This ad-hoc statement may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Contact for investors: Ronald Köhler, Head of Investor Relations Phone: +49 214 6009 5098 E-mail: [email protected] Contact for media: Niko Palosuo, Global Head of External Communications Phone: +49 214 6009 4872 E-mail: [email protected]
15-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Covestro AG |
Kaiser-Wilhelm-Allee 60 | |
51373 Leverkusen | |
Germany | |
Phone: | +49 (0) 214 60095098 |
Fax: | +49 (0) 214 60097002 |
E-mail: | [email protected] |
Internet: | www.covestro.com |
ISIN: | DE0006062144 |
WKN: | 606214 |
Indices: | DAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1021927 |
End of Announcement | DGAP News Service |
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1021927 15-Apr-2020 CET/CEST
Covestro AG Stock
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