DGAP-Adhoc: Covestro AG: Preliminary EBITDA of EUR 124 million in Q2 2020 is above market expectation
DGAP-Ad-hoc: Covestro AG / Key word(s): Preliminary Results/Quarter Results
Covestro AG: Preliminary EBITDA of EUR 124 million in Q2 2020 is above market expectation
09-Jul-2020 / 11:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
In the course of preparing the half-year financial report 2020 for the Covestro Group, preliminary Q2 key financial data deviate from capital market expectations, based on the average values of latest consensus estimates of financial analysts, published by Vara Research on July 8, 2020.
Therefore, Covestro provides already today the following Q2 pre-release of the Group half-year financial report 2020:
Preliminary sales amount to EUR 2,156 million in Q2'20. Consensus expects this number to be EUR 2,223 million.
Preliminary volume effect in sales amounts to -22% in Q2'20. Consensus expects this number to be -22.5%.
Preliminary EBITDA amounts to EUR 124 million in Q2'20. Consensus expects this number to be EUR 80 million.
Preliminary net income amounts to around EUR -60 million in Q2'20. Consensus expects this number to be EUR -107 million.
The entire half-year financial report 2020 will be published on July 23, 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: ronald.koehler@covestro.com
Contact for media:
Lars Boelke, Global Corporate Media Relations
Phone: +49 214 6009 4206
E-mail: lars.boelke@covestro.com
Therefore, Covestro provides already today the following Q2 pre-release of the Group half-year financial report 2020:
Preliminary sales amount to EUR 2,156 million in Q2'20. Consensus expects this number to be EUR 2,223 million.
Preliminary volume effect in sales amounts to -22% in Q2'20. Consensus expects this number to be -22.5%.
Preliminary EBITDA amounts to EUR 124 million in Q2'20. Consensus expects this number to be EUR 80 million.
Preliminary net income amounts to around EUR -60 million in Q2'20. Consensus expects this number to be EUR -107 million.
The entire half-year financial report 2020 will be published on July 23, 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: ronald.koehler@covestro.com
Contact for media:
Lars Boelke, Global Corporate Media Relations
Phone: +49 214 6009 4206
E-mail: lars.boelke@covestro.com
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