Covestro Group Key Data

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2020

 

2021

 

Change

 

 

€ million

 

€ million

 

%

Core volume growth1, 2

 

–5.6%

 

+10.0%

 

 

Sales

 

10,706

 

15,903

 

+48.5

Change in sales

 

 

 

 

 

 

Volume

 

–5.1%

 

+6.5%

 

 

Price

 

–5.7%

 

+34.7%

 

 

Currency

 

–1.6%

 

–0.8%

 

 

Portfolio

 

–1.3%

 

+8.1%

 

 

Sales by region

 

 

 

 

 

 

EMLA3

 

4,600

 

6,876

 

+49.5

NA4

 

2,554

 

3,553

 

+39.1

APAC5

 

3,552

 

5,474

 

+54.1

EBITDA6

 

1,472

 

3,085

 

>100

Changes in EBITDA

 

 

 

 

 

 

Volume

 

–24.9%

 

+23.8%

 

 

Price

 

–44.2%

 

+252.0%

 

 

Raw material price

 

+52.4%

 

–125.3%

 

 

Currency

 

–1.6%

 

–0.1%

 

 

Other7

 

+10.1%

 

–40.9%

 

 

EBIT8

 

696

 

2,262

 

>200

Financial result

 

(91)

 

(77)

 

–15.4

Net income9

 

459

 

1,616

 

>200

Earnings per share (€)10

 

2.48

 

8.37

 

>200

Cash flows from operating activities11

 

1,234

 

2,193

 

+77.7

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

 

704

 

764

 

+8.5

Free operating cash flow12

 

530

 

1,429

 

>100

Net financial debt13, 14

 

356

 

1,405

 

>200

ROCE15

 

+7.0%

 

+19.5%

 

 

Employees (in FTE)14, 16

 

16,501

 

17,909

 

+8.5

1

Core volume growth refers to the core products in the Performance Materials and Solutions & Specialties segments. It is calculated as the percentage change in externally sold volumes compared with the prior year. Covestro also takes advantage of business opportunities outside its core business, for example the sale of precursors and by-products such as hydrochloric acid, sodium hydroxide solution, and styrene. These transactions are not included in core volume growth.

2

Calculated on the basis of the definition of the core business effective March 31, 2021.

3

EMLA: Europe, Middle East, Latin America (excluding Mexico), Africa region.

4

NA: North America region (Canada, Mexico, United States).

5

APAC: Asia and Pacific region.

6

EBITDA: EBIT plus depreciation, amortization, and impairment losses; less impairment loss reversals on intangible assets and property, plant and equipment.

7

Other changes in EBITDA such as changes in provisions for variable compensation.

8

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

9

Net income: income after income taxes attributable to the shareholders of Covestro AG.

10

Earnings per share: according to IAS 33 (Earnings per Share), net income divided by the weighted average number of outstanding no-par value voting shares of Covestro AG. The calculation for fiscal 2021 was based on 193,165,396 no-par shares (previous year: 184,912,207 no-par shares).

11

Cash flows from operating activities according to IAS 7 (Statement of Cash Flows).

12

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

13

Excluding provisions for pensions and other post-employment benefits.

14

As of December 31 in each case.

15

ROCE: The return on capital employed is calculated as the ratio of EBIT after taxes to capital employed. The indicator is calculated as a ratio of the adjusted operating result (EBIT) after imputed income taxes to capital employed. 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 (FTEs).