EBITDA down at Covestro in 2018, despite sales growth

摘要

Dusseldorf, Germany — Covestro reported lower earnings in 2018, despite a 3.5% rise in sales and volumes across the board. Although group sales reached €14.6bn for the year, EBITDA was 6.8% below its 2017 level. It reached €3.2bn in 2018. 'Demand for our high-tech materials remains intact. That is a strong foundation for our profitable growth in the long-term,' said CEO Markus Steilemann. Although selling prices and volumes were higher, the effect of this was more or less wiped out by higher raw material prices. Q4 had a very strong negative impact, he added.