Segment and Quarterly Overview
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Polyurethanes |
Polycarbonates |
Coatings, Adhesives, Specialties |
Others/consolidation |
Covestro Group |
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4th quarter 2018 |
4th quarter 2019 |
4th quarter 2018 |
4th quarter 2019 |
4th quarter 2018 |
4th quarter 2019 |
4th quarter 2018 |
4th quarter 2019 |
4th quarter 2018 |
4th quarter 2019 |
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€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
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Sales |
1,597 |
1,336 |
924 |
814 |
534 |
533 |
217 |
181 |
3,272 |
2,864 |
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Change in sales |
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Volume |
+2.5% |
–0.2% |
+4.2% |
0.0% |
+0.3% |
+0.1% |
+7.1% |
–9.4% |
+2.9% |
–0.7% |
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Price |
–17.6% |
–16.9% |
–2.3% |
–13.5% |
0.0% |
–4.2% |
+14.0% |
–7.9% |
–9.3% |
–13.3% |
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Currency |
+0.2% |
+1.5% |
+0.3% |
+1.6% |
+0.6% |
+1.9% |
+0.8% |
+0.7% |
+0.3% |
+1.5% |
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Portfolio |
0.0% |
–0.7% |
–3.8% |
0.0% |
0.0% |
+2.0% |
0.0% |
0.0% |
–1.0% |
0.0% |
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Core volume growth2 |
+2.4% |
+3.6% |
+1.6% |
+3.5% |
–2.2% |
+6.2% |
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+1.7% |
+3.8% |
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Sales by region |
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EMLA |
678 |
546 |
301 |
270 |
240 |
224 |
168 |
139 |
1,387 |
1,179 |
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NAFTA |
474 |
394 |
200 |
160 |
129 |
129 |
45 |
36 |
848 |
719 |
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APAC |
445 |
396 |
423 |
384 |
165 |
180 |
4 |
6 |
1,037 |
966 |
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EBITDA |
111 |
123 |
133 |
95 |
63 |
62 |
(14) |
(2) |
293 |
278 |
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EBIT |
27 |
24 |
88 |
39 |
39 |
32 |
(14) |
(2) |
140 |
93 |
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Depreciation, amortization, impairment losses and impairment loss reversals |
84 |
99 |
45 |
56 |
24 |
30 |
– |
– |
153 |
185 |
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Operating cash flows |
393 |
282 |
235 |
204 |
107 |
170 |
(94) |
(19) |
641 |
637 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
171 |
168 |
70 |
84 |
36 |
55 |
1 |
– |
278 |
307 |
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Free operating cash flow |
222 |
114 |
165 |
120 |
71 |
115 |
(95) |
(19) |
363 |
330 |
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Working capital3 |
1,018 |
860 |
769 |
562 |
500 |
485 |
75 |
63 |
2,362 |
1,970 |
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Polyurethanes |
Polycarbonates |
Coatings, Adhesives, Specialties |
Others/consolidation |
Covestro Group |
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2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
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€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
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Sales |
7,362 |
5,779 |
4,051 |
3,473 |
2,361 |
2,369 |
842 |
791 |
14,616 |
12,412 |
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Change in sales |
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Volume |
+0.9% |
+1.5% |
+3.8% |
+2.4% |
+3.5% |
–2.1% |
+5.6% |
–5.4% |
+2.3% |
+0.8% |
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Price |
+1.9% |
–24.7% |
+9.7% |
–16.5% |
+0.6% |
–1.1% |
+18.1% |
–1.9% |
+4.5% |
–17.3% |
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Currency |
–3.1% |
+1.8% |
–3.4% |
+2.0% |
–2.6% |
+2.3% |
–1.3% |
+1.2% |
–3.0% |
+1.9% |
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Portfolio |
0.0% |
–0.1% |
–1.7% |
–2.2% |
0.0% |
+1.2% |
0.0% |
0.0% |
–0.4% |
–0.5% |
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Core volume growth2 |
+0.8% |
+2.3% |
+3.0% |
+2.7% |
+2.3% |
–1.0% |
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+1.5% |
+2.0% |
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Sales by region |
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EMLA |
3,182 |
2,487 |
1,347 |
1,146 |
1,117 |
1,052 |
638 |
604 |
6,284 |
5,289 |
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NAFTA |
1,947 |
1,680 |
817 |
734 |
519 |
562 |
186 |
165 |
3,469 |
3,141 |
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APAC |
2,233 |
1,612 |
1,887 |
1,593 |
725 |
755 |
18 |
22 |
4,863 |
3,982 |
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EBITDA |
1,763 |
648 |
1,036 |
536 |
464 |
469 |
(63) |
(49) |
3,200 |
1,604 |
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EBIT |
1,412 |
250 |
861 |
300 |
371 |
352 |
(64) |
(50) |
2,580 |
852 |
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Depreciation, amortization, impairment losses and impairment loss reversals |
351 |
398 |
175 |
236 |
93 |
117 |
1 |
1 |
620 |
752 |
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Operating cash flows |
1,386 |
575 |
654 |
613 |
309 |
349 |
27 |
(154) |
2,376 |
1,383 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
414 |
543 |
186 |
209 |
106 |
158 |
1 |
– |
707 |
910 |
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Free operating cash flow |
972 |
32 |
468 |
404 |
203 |
191 |
26 |
(154) |
1,669 |
473 |
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Working capital3 |
1,018 |
860 |
769 |
562 |
500 |
485 |
75 |
63 |
2,362 |
1,970 |
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1st quarter 2018 |
2nd quarter 2018 |
3rd quarter 2018 |
4th quarter 2018 |
1st quarter 2019 |
2nd quarter 2019 |
3rd quarter 2019 |
4th quarter 2019 |
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|
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
€ million |
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Sales |
3,779 |
3,863 |
3,702 |
3,272 |
3,175 |
3,211 |
3,162 |
2,864 |
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Polyurethanes |
1,950 |
1,966 |
1,849 |
1,597 |
1,476 |
1,489 |
1,478 |
1,336 |
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Polycarbonates |
1,033 |
1,056 |
1,038 |
924 |
860 |
898 |
901 |
814 |
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Coatings, Adhesives, Specialties |
592 |
629 |
606 |
534 |
627 |
621 |
588 |
533 |
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Core volume growth2 |
0.0% |
+4.4% |
+0.2% |
+1.7% |
–1.8% |
+1.1% |
+5.3% |
+3.8% |
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EBITDA |
1,063 |
985 |
859 |
293 |
442 |
459 |
425 |
278 |
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Polyurethanes |
637 |
583 |
432 |
111 |
157 |
172 |
196 |
123 |
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Polycarbonates |
303 |
285 |
315 |
133 |
155 |
154 |
132 |
95 |
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Coatings, Adhesives, Specialties |
136 |
139 |
126 |
63 |
146 |
150 |
111 |
62 |
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EBIT |
907 |
826 |
707 |
140 |
264 |
274 |
221 |
93 |
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Polyurethanes |
547 |
492 |
346 |
27 |
57 |
72 |
97 |
24 |
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Polycarbonates |
260 |
241 |
272 |
88 |
105 |
99 |
57 |
39 |
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Coatings, Adhesives, Specialties |
113 |
116 |
103 |
39 |
118 |
120 |
82 |
32 |
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Financial result |
(28) |
(27) |
(25) |
(24) |
(23) |
(23) |
(19) |
(26) |
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Income before income taxes |
879 |
799 |
682 |
116 |
241 |
251 |
202 |
67 |
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Income after taxes |
646 |
606 |
497 |
80 |
180 |
190 |
149 |
38 |
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Net income |
644 |
604 |
496 |
79 |
179 |
189 |
147 |
37 |
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Operating cash flows |
452 |
517 |
766 |
641 |
120 |
164 |
462 |
637 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
88 |
153 |
188 |
278 |
165 |
219 |
219 |
307 |
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Free operating cash flow |
364 |
364 |
578 |
363 |
(45) |
(55) |
243 |
330 |
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