About This Report

Forward-Looking Statements

This Annual Report may contain forward-looking statements based on current assumptions and forecasts made by the management of 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 Group and the estimates given here. These factors include those discussed in Covestro’s public reports, which are available on the Covestro website at www.covestro.com. The Group assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Nonfinancial statement

The Covestro Group’s nonfinancial statement in accordance with Sections 315b and 315c in conjunction with Sections 289c through 289e of the (HGB) is integrated into the Group management report. In the relevant sections, we outline the strategies we pursue in addressing environmental, labor, and social issues as well as protecting human rights and fighting corruption and bribery, including the processes followed and measures implemented as well as the results produced by these strategies. Nonfinancial performance indicators are reported only when these are important to the Covestro Group.

In addition to this Annual Report, we provide supplementary sustainability information in a separate publication (GRI Supplement) at www.covestro.com.

The Management Report and Supplement comprise our company’s sustainability reporting, which is aligned with international standards and recommendations. Our sustainability reporting complies with GRI core reporting in line with the Global Reporting Initiative’s (GRI) Sustainability Reporting Standards (SRS).

Combined Management Report of the Covestro Group and Covestro AG

The combined management report for 2018 pertains to both the Covestro Group and Covestro AG. The presentation of the business performance as well as the position of and the forecast for key data pertain to the Covestro Group, except where otherwise indicated. Information that applies to Covestro AG only is identified accordingly. In the Report on Economic Position, the information disclosed pursuant to the German Commercial Code (HGB) with regard to Covestro AG is provided in a separate section. In addition, the nonfinancial statement pursuant to Section 315b HGB is an integrated part of the Group Management Report. A nonfinancial statement for Covestro AG does not have to be provided at this time.


As the indicators in this report are stated in accordance with commercial rounding principles, totals and percentages may not always be exact.

Percentage Deviations

Percentage deviations are only calculated and reported if they are no more than 100%. Larger deviations are reported as >100%, >200%, etc. If a deviation changes from positive to negative or vice versa, or if it is greater than 1,000%, this is shown by a period.

Effects of New Financial Reporting Standards

The reference information for fiscal 2017 has not been restated to reflect the new financial reporting standards. For more information please see Note 2 “Effects of New Financial Reporting Standards” of the Consolidated Financial Statements.

Equal Treatment

We consider equal treatment to be important. To ensure legibility, this Annual Report avoids gender-specific wordings. All terms should be taken to apply equally to all genders.

This Annual Report was published in German and English on February 25, 2019. Only the German version is binding.

HGB/German Commercial Code
Comprises much of the German accounting legislation
Due diligence
Investigation and analysis of a company, especially in respect of its economic, legal, tax and financial position
GRI/Global Reporting Initiative
Guidelines for the preparation of sustainability reports by companies, governments and non-governmental organizations (NGOs)