Covestro: net profit quartered in Q2

(CercleFinance.com) - Covestro has published Q2 2023 net profit that slumped 76.
9% to E46m, with an EBITDA that is down 29.6% to E385m, albeit in line with its target range of E330m-E430m.

In addition to lower margins, the German materials chemicals group's sales decreased 20.9% to E3.7bn, mainly due to a fall in selling prices linked to low demand and a contraction in volumes sold.

Covestro confirms its guidance for 2023, currently expecting its results to be in the lower half of the specified ranges for all KPIs.


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