Covestro Group Key Data

 

 

 

 

 

 

 

 

 

2017

 

2018

 

Change

 

 

€ million

 

€ million

 

%

1 Core volume growth refers to the core products in the Polyurethanes, Polycarbonates and Coatings, Adhesives, Specialties segments. It is calculated as the percentage change in externally sold volumes in thousand tons compared with the prior year. Covestro also takes advantage of business opportunities outside its core business, for example the sale of raw materials and by-products such as hydrochloric acid, sodium hydroxide solution and styrene. These transactions are not included in core volume growth.

2 Reference values calculated based on the definition of the core business effective March 31, 2018

3 EMLA: Europe, Middle East, Africa and Latin America (excl. Mexico) region

4 NAFTA: United States, Canada and Mexico region

5 APAC: Asia and Pacific region

6 EBITDA: EBIT plus depreciation and amortization

7 Adjusted EBITDA is not reported because no income or expense items were recognized as special items either in the reporting period or in the corresponding prior-year period.

8 EBIT: income after income taxes plus financial result and income taxes

9 Adjusted EBIT is not reported because no income or expense items were recognized as special items either in the reporting period or in the corresponding prior-year period.

10 Net income: income after income taxes attributable to the stockholders of Covestro AG

11 Operating cash flows: cash flows from operating activities according to IAS 7

12 Free operating cash flow: operating cash flows less cash outflows for additions to property, plant, equipment and intangible assets

13 Excluding obligations for pensions and other post-employment benefits

14 As of December 31, 2018 compared with December 31, 2017

15 ROCE: The return on capital employed is calculated as the ratio of adjusted operating result after taxes to capital employed. The capital employed is the capital used by the company. It is the sum of noncurrent and current assets less noninterest-bearing liabilities such as trade accounts payable.

16 Employees calculated as full-time equivalents (FTE)

Core volume growth1, 2

 

+3.4%

 

+1.6%

 

 

Sales

 

14,138

 

14,616

 

+3.4

Change in sales

 

 

 

 

 

 

Volume

 

+4.3%

 

+2.3%

 

 

Price

 

+16.1%

 

+4.5%

 

 

Currency

 

–1.6%

 

–3.0%

 

 

Portfolio

 

0.0%

 

–0.4%

 

 

Sales by region

 

 

 

 

 

 

EMLA3

 

5,997

 

6,284

 

+4.8

NAFTA4

 

3,398

 

3,469

 

+2.1

APAC5

 

4,743

 

4,863

 

+2.5

EBITDA6, 7

 

3,435

 

3,200

 

–6.8

Changes in EBITDA

 

 

 

 

 

 

of which volume

 

11.5%

 

6.3%

 

 

of which price

 

95.4%

 

18.7%

 

 

of which raw material costs

 

–33.6%

 

–16.8%

 

 

of which currency

 

–3.0%

 

–2.9%

 

 

EBIT8, 9

 

2,808

 

2,580

 

–8.1

Financial result

 

(150)

 

(104)

 

–30.7

Net income10

 

2,009

 

1,823

 

–9.3

Operating cash flows11

 

2,361

 

2,376

 

+0.6

Cash outflows for additions to property, plant, equipment and intangible assets

 

518

 

707

 

+36.5

Free operating cash flow12

 

1,843

 

1,669

 

–9.4

Net financial debt13, 14

 

283

 

348

 

+23.0

ROCE15

 

33.4%

 

29.5%

 

 

Employees (in FTE)14, 16

 

16,176

 

16,770

 

+3.7