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EQS-Adhoc: Covestro AG: Preliminary results for the first quarter 2023

eqs_en 
0 0 13.04.23
EQS-Adhoc: Covestro AG: Preliminary results for the first quarter 2023
 

EQS-Ad-hoc: Covestro AG / Key word(s): Preliminary Results
Covestro AG: Preliminary results for the first quarter 2023

13-Apr-2023 / 18:47 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

In the course of preparing Covestro’s group accounts for the first quarter 2023, preliminary financial figures deviate from capital market expectations, based on the average values of latest consensus estimates of financial analysts, published by Vara Research on April 13, 2023.

Therefore, Covestro provides already today the following preliminary key financial data for the first quarter 2023: 
 
  • Preliminary sales amount to EUR 3,743 million. The consensus expects EUR 3,942 million.
 
  • Preliminary EBITDA amounts to EUR 286 million. The previous guidance expected EBITDA to be between EUR 100 million and EUR 150 million. The consensus expects EUR 158 million.
 
  • Preliminary net income amounts to around EUR -30 million. The consensus expects EUR -77 million.
 
  • Preliminary free operating cash flow (FOCF) amounts to around EUR -140 million.

The interim statement of the first quarter 2023 will be published on April 28, 2023.




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


End of Inside Information

13-Apr-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
Language: English
Company: Covestro AG
Kaiser-Wilhelm-Allee 60
51373 Leverkusen
Germany
Phone: +49 (0) 214 60095098
Fax: +49 (0) 214 60097002
E-mail: ronald.koehler@covestro.com
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: 1607275

 
End of Announcement EQS News Service

1607275  13-Apr-2023 CET/CEST

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Covestro AG Stock

€54.66
0.110%
The Covestro AG stock is trending slightly upwards today, with an increase of €0.060 (0.110%) compared to yesterday's price.
Currently there is a rather positive sentiment for Covestro AG with 4 Buy predictions and 0 Sell predictions.
However, we have a potential of -1.21% for Covestro AG as the target price of 54 € is below the current price of 54.66 €.
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EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




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