Segment and Quarterly Overview
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Polyurethanes |
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Polycarbonates |
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Coatings, Adhesives, Specialties |
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Others/ |
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Covestro Group |
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4th quarter 2019 |
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4th quarter 2020 |
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4th quarter 2019 |
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4th quarter 2020 |
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4th quarter 2019 |
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4th quarter 2020 |
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4th quarter 2019 |
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4th quarter 2020 |
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4th quarter 2019 |
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4th quarter 2020 |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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Sales |
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1,336 |
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1,519 |
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814 |
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803 |
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533 |
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529 |
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181 |
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156 |
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2,864 |
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3,007 |
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Change in sales |
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Volume |
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–0.2% |
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+2.9% |
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0.0% |
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+7.4% |
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+0.1% |
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+7.5% |
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–9.4% |
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–3.2% |
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–0.7% |
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+4.7% |
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Price |
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–16.9% |
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+16.2% |
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–13.5% |
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–2.1% |
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–4.2% |
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–4.9% |
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–7.9% |
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–9.8% |
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–13.3% |
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+5.4% |
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Currency |
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+1.5% |
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–4.8% |
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+1.6% |
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–3.7% |
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+1.9% |
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–3.4% |
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+0.7% |
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–0.8% |
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+1.5% |
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–4.0% |
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Portfolio |
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–0.7% |
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–0.6% |
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0.0% |
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–3.0% |
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+2.0% |
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0.0% |
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0.0% |
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0.0% |
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0.0% |
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–1.1% |
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Core volume growth1 |
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+3.6% |
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+0.8% |
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+3.5% |
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+3.2% |
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+6.2% |
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+2.8% |
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+3.8% |
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+1.7% |
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Sales by region |
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EMLA |
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546 |
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683 |
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270 |
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244 |
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224 |
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227 |
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139 |
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134 |
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1,179 |
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1,288 |
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NAFTA |
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394 |
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365 |
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160 |
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154 |
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129 |
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116 |
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36 |
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19 |
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719 |
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654 |
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APAC |
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396 |
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471 |
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384 |
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405 |
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180 |
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186 |
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6 |
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3 |
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966 |
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1,065 |
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EBITDA |
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123 |
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379 |
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95 |
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200 |
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62 |
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52 |
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(2) |
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6 |
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278 |
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637 |
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EBIT |
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24 |
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264 |
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39 |
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143 |
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32 |
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19 |
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(2) |
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6 |
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93 |
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432 |
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Depreciation, amortization, impairment losses and impairment loss reversals |
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99 |
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115 |
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56 |
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57 |
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30 |
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33 |
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– |
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– |
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185 |
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205 |
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Operating cash flows |
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282 |
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285 |
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204 |
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178 |
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170 |
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113 |
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(19) |
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59 |
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637 |
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635 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
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168 |
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138 |
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84 |
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61 |
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55 |
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43 |
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– |
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(1) |
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307 |
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241 |
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Free operating cash flow |
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114 |
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147 |
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120 |
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117 |
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115 |
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70 |
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(19) |
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60 |
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330 |
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394 |
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Trade working capital2 |
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839 |
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900 |
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580 |
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550 |
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483 |
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444 |
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63 |
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55 |
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1,965 |
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1,949 |
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Polyurethanes |
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Polycarbonates |
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Coatings, Adhesives, Specialties |
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Others/ |
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Covestro Group |
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2019 |
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2020 |
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2019 |
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2020 |
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2019 |
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2020 |
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2019 |
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2020 |
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2019 |
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2020 |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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Sales |
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5,779 |
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5,021 |
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3,473 |
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2,985 |
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2,369 |
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2,039 |
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791 |
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661 |
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12,412 |
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10,706 |
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Change in sales |
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Volume |
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+1.5% |
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–5.0% |
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+2.4% |
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–2.3% |
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–2.1% |
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–9.0% |
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–5.4% |
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–7.3% |
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+0.8% |
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–5.1% |
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Price |
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–24.7% |
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–5.1% |
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–16.5% |
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–7.0% |
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–1.1% |
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–4.2% |
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–1.9% |
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–8.9% |
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–17.3% |
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–5.7% |
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Currency |
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+1.8% |
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–2.0% |
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+2.0% |
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–1.5% |
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+2.3% |
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–1.0% |
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+1.2% |
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–0.2% |
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+1.9% |
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–1.6% |
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Portfolio |
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–0.1% |
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–1.0% |
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–2.2% |
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–3.3% |
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+1.2% |
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+0.3% |
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0.0% |
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0.0% |
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–0.5% |
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–1.3% |
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Core volume growth1 |
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+2.3% |
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–6.1% |
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+2.7% |
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–3.0% |
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–1.0% |
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–8.9% |
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+2.0% |
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–5.6% |
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Sales by region |
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EMLA |
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2,487 |
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2,189 |
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1,146 |
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942 |
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1,052 |
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908 |
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604 |
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561 |
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5,289 |
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4,600 |
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NAFTA |
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1,680 |
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1,389 |
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734 |
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610 |
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562 |
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469 |
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165 |
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86 |
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3,141 |
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2,554 |
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APAC |
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1,612 |
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1,443 |
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1,593 |
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1,433 |
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755 |
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662 |
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22 |
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14 |
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3,982 |
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3,552 |
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EBITDA |
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648 |
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625 |
|
536 |
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553 |
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469 |
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341 |
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(49) |
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(47) |
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1,604 |
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1,472 |
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EBIT |
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250 |
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197 |
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300 |
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332 |
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352 |
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215 |
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(50) |
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(48) |
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852 |
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696 |
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Depreciation, amortization, impairment losses and impairment loss reversals |
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398 |
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428 |
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236 |
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221 |
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117 |
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126 |
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1 |
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1 |
|
752 |
|
776 |
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Operating cash flows |
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575 |
|
423 |
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613 |
|
484 |
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349 |
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327 |
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(154) |
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– |
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1,383 |
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1,234 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
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543 |
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409 |
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209 |
|
157 |
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158 |
|
138 |
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– |
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– |
|
910 |
|
704 |
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Free operating cash flow |
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32 |
|
14 |
|
404 |
|
327 |
|
191 |
|
189 |
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(154) |
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– |
|
473 |
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530 |
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Trade working capital2 |
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839 |
|
900 |
|
580 |
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550 |
|
483 |
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444 |
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63 |
|
55 |
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1,965 |
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1,949 |
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1st quarter |
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2nd quarter |
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3rd quarter |
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4th quarter |
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1st quarter |
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2nd quarter |
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3rd quarter |
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4th quarter |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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€ million |
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Sales |
|
3,175 |
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3,211 |
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3,162 |
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2,864 |
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2,783 |
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2,156 |
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2,760 |
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3,007 |
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Polyurethanes |
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1,476 |
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1,489 |
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1,478 |
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1,336 |
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1,274 |
|
913 |
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1,315 |
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1,519 |
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Polycarbonates |
|
860 |
|
898 |
|
901 |
|
814 |
|
733 |
|
648 |
|
801 |
|
803 |
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Coatings, Adhesives, Specialties |
|
627 |
|
621 |
|
588 |
|
533 |
|
572 |
|
443 |
|
495 |
|
529 |
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Core volume growth1 |
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–1.8% |
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+1.1% |
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+5.3% |
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+3.8% |
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–4.1% |
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–22.7% |
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+3.0% |
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+1.7% |
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EBITDA |
|
442 |
|
459 |
|
425 |
|
278 |
|
254 |
|
125 |
|
456 |
|
637 |
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Polyurethanes |
|
157 |
|
172 |
|
196 |
|
123 |
|
50 |
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(24) |
|
220 |
|
379 |
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Polycarbonates |
|
155 |
|
154 |
|
132 |
|
95 |
|
109 |
|
96 |
|
148 |
|
200 |
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Coatings, Adhesives, Specialties |
|
146 |
|
150 |
|
111 |
|
62 |
|
130 |
|
60 |
|
99 |
|
52 |
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EBIT |
|
264 |
|
274 |
|
221 |
|
93 |
|
67 |
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(68) |
|
265 |
|
432 |
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Polyurethanes |
|
57 |
|
72 |
|
97 |
|
24 |
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(51) |
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(130) |
|
114 |
|
264 |
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Polycarbonates |
|
105 |
|
99 |
|
57 |
|
39 |
|
54 |
|
41 |
|
94 |
|
143 |
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Coatings, Adhesives, Specialties |
|
118 |
|
120 |
|
82 |
|
32 |
|
100 |
|
28 |
|
68 |
|
19 |
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Financial result |
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(23) |
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(23) |
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(19) |
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(26) |
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(39) |
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(17) |
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(22) |
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(13) |
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Income before income taxes |
|
241 |
|
251 |
|
202 |
|
67 |
|
28 |
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(85) |
|
243 |
|
419 |
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Income after taxes |
|
180 |
|
190 |
|
149 |
|
38 |
|
21 |
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(53) |
|
180 |
|
306 |
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Net income |
|
179 |
|
189 |
|
147 |
|
37 |
|
20 |
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(52) |
|
179 |
|
312 |
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Operating cash flows |
|
120 |
|
164 |
|
462 |
|
637 |
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(110) |
|
171 |
|
538 |
|
635 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
|
165 |
|
219 |
|
219 |
|
307 |
|
139 |
|
147 |
|
177 |
|
241 |
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Free operating cash flow |
|
(45) |
|
(55) |
|
243 |
|
330 |
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(249) |
|
24 |
|
361 |
|
394 |
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