EQS-Adhoc: Covestro AG: Preliminary results for fiscal year 2022

In the course of preparing Covestro’s group accounts for fiscal year 2022, preliminary full-year financial figures deviate from capital market expectations, based on the average values of latest consensus estimates of financial analysts, published by Vara Research on January 12, 2023.

Therefore, Covestro provides already today the following preliminary key financial data for fiscal year 2022: 
 

• Preliminary sales amount to EUR 17,968 million. The consensus expects this figure to be EUR 17,999 million.

 

• Preliminary EBITDA amounts to approx. EUR 1,610 million. The previous guidance expected EBITDA to be between EUR 1,700 million and EUR 1,800 million. The consensus expects this figure to be EUR 1,679 million.

 

• Preliminary net income amounts to approx. EUR -300 million. The consensus expects this figure to be EUR 420 million. The Group's net income is particularly burdened by extraordinary depreciation of non-current assets in the amount of approx. EUR 470 million and by adjustments of deferred tax assets in the amount of approx. EUR 250 million.

 

• Preliminary free operating cash flow (FOCF) amounts to approx. EUR 130 million. The previous guidance expected FOCF to be between EUR 0 and EUR 100 million. The consensus expects this figure to be EUR -39 million.

The Annual Report 2022 will be published on March 2, 2023.


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:
Ronald Köhler
Head of Investor Relations
Phone: +49 214 6009 5098
E-mail: ronald.koehler@covestro.com

Carsten Intveen
Phone: +49 214 6009 5861
E-mail: carsten.intveen@covestro.com

Marc Schütze
Phone: +49 214 6009 5281
E-mail: marc.schuetze@covestro.com