Annual Report 2023

Reporting Profile

Forward-Looking Statements

This Report may contain forward-looking statements based on assumptions and forecasts made by the management of Covestro AG, Leverkusen (Germany), at the time the report was prepared. 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. The various factors include those discussed in Covestro’s public reports, which are available at The company assumes no liability whatsoever to update such forward-looking statements or to conform them to future events or developments.

Inclusive Language

Diversity, equity, and inclusion are important to Covestro. To ensure better readability, we therefore strive to use gender-neutral language and avoid gender-specific terms in this Report. All terms should be taken to apply equally to all genders.

External Audit

KPMG AG Wirtschaftsprüfungsgesellschaft, Düsseldorf (Germany), audited the Consolidated Financial Statements of Covestro AG and the combined management report during the financial statement audit required by law, and issued an unqualified audit opinion. In addition, the compensation report forms an integral part of this Annual Report. This report was subjected to a substantive audit, including the formal examination required by Section 162 of the German Stock Corporation Act (AktG), and issued with an unqualified audit opinion, which confirms that the compensation report for the financial year from January 1 to December 31, 2023, including the related disclosures, complies in all material respects with the financial reporting requirements of Section 162 AktG.

The supplementary sustainability information that is not part of our statutory audit of the Consolidated Financial Statements was subjected to a separate review with limited assurance pursuant to the International Standard on Assurance Engagements (ISAE) 3000 by KPMG AG Wirtschaftsprüfungsgesellschaft, Düsseldorf (Germany). This information is identified in this document as follows:


Contents not covered directly by the above reports, such as information provided on websites, is not part of the substantive audit conducted by the auditor.


References in this report are identified by “Ú”. References to the supplementary sustainability information were subjected to a review with limited assurance. Any references to contents not covered by the combined management report, the supplementary sustainability information, the compensation report, or the consolidated financial statements were not part of the external audit.

Rounding and Percentage Deviations

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

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.


In addition to publication in this report, components subject to disclosure requirements in accordance with Section 328 (1) sentence 4 of the German Commercial Code (HGB) are published in the Federal Gazette, in compliance with the provisions of the European Single Electronic Format (ESEF) Regulation. They are accessible via the website

This Annual Report was published on February 29, 2024. It is available in German and English. The German version is binding.

AktG/German Stock Corporation Act
Stipulates the legal provisions pertaining to German stock corporations.
HGB/German Commercial Code
Comprises the majority of German accounting legislation.

Topics filter

What are you looking for? Filter our online annual report by main topics.