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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2nd quarter 2020 |
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2nd quarter 2021 |
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2nd quarter 2020 |
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2nd quarter 2021 |
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2nd quarter 2020 |
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2nd quarter 2021 |
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2nd quarter 2020 |
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2nd quarter 2021 |
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2nd quarter 2020 |
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2nd quarter 2021 |
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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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913 |
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1,841 |
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648 |
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1,015 |
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443 |
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926 |
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152 |
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174 |
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2,156 |
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3,956 |
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Change in sales |
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Volume |
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–24.8% |
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+29.1% |
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–16.4% |
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+28.1% |
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–25.8% |
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+34.4% |
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–17.1% |
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+17.1% |
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–22.3% |
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+29.0% |
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Price |
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–12.3% |
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+78.5% |
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–7.8% |
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+33.3% |
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–3.2% |
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+13.2% |
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–8.2% |
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–1.2% |
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–9.0% |
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+45.9% |
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Currency |
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–0.4% |
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–6.0% |
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–0.1% |
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–4.8% |
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+0.3% |
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–6.5% |
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+0.2% |
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–1.4% |
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–0.1% |
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–5.4% |
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Portfolio |
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–1.2% |
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0.0% |
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–3.5% |
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0.0% |
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0.0% |
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+67.9% |
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0.0% |
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0.0% |
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–1.5% |
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+14.0% |
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Core volume growth1 |
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–25.9% |
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+27.8% |
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–14.4% |
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+15.4% |
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–25.3% |
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+133.5% |
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–22.7% |
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+35.0% |
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Sales by region |
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EMLA |
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359 |
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874 |
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197 |
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310 |
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188 |
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434 |
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130 |
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147 |
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874 |
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1,765 |
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NA |
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266 |
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457 |
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121 |
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166 |
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101 |
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198 |
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20 |
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23 |
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508 |
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844 |
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APAC |
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288 |
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510 |
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330 |
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539 |
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154 |
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294 |
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2 |
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4 |
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774 |
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1,347 |
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EBITDA |
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(24) |
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452 |
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96 |
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260 |
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60 |
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134 |
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(7) |
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(29) |
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125 |
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817 |
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EBIT |
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(130) |
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348 |
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41 |
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208 |
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28 |
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81 |
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(7) |
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(30) |
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(68) |
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607 |
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Depreciation, amortization, impairment losses and impairment loss reversals |
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106 |
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104 |
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55 |
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52 |
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32 |
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53 |
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– |
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1 |
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193 |
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210 |
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Cash flows from operating activities |
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7 |
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288 |
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68 |
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140 |
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94 |
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132 |
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2 |
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(7) |
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171 |
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553 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
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84 |
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113 |
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34 |
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22 |
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29 |
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43 |
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– |
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1 |
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147 |
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179 |
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Free operating cash flow |
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(77) |
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175 |
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34 |
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118 |
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65 |
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89 |
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2 |
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(8) |
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24 |
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374 |
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Trade working capital2 |
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959 |
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1,238 |
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650 |
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760 |
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497 |
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675 |
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62 |
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52 |
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2,168 |
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2,725 |
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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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1st half 2020 |
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1st half 2021 |
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1st half 2020 |
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1st half 2021 |
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1st half 2020 |
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1st half 2021 |
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1st half 2020 |
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1st half 2021 |
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1st half 2020 |
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1st half 2021 |
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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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2,187 |
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3,506 |
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1,381 |
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1,904 |
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1,015 |
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1,521 |
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356 |
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332 |
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4,939 |
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7,263 |
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Change in sales |
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Volume |
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–13.7% |
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+12.3% |
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–9.6% |
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+19.9% |
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–16.4% |
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+18.1% |
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–4.5% |
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–2.0% |
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–12.5% |
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+14.6% |
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Price |
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–11.5% |
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+53.8% |
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–8.6% |
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+22.9% |
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–3.5% |
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+7.1% |
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–10.0% |
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–3.7% |
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–9.1% |
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+31.4% |
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Currency |
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+0.1% |
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–5.8% |
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+0.4% |
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–4.9% |
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+0.7% |
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–5.0% |
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+0.3% |
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–1.0% |
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+0.3% |
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–5.0% |
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Portfolio |
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–1.1% |
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0.0% |
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–3.6% |
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0.0% |
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+0.5% |
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+29.7% |
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0.0% |
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0.0% |
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–1.4% |
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+6.1% |
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Core volume growth1 |
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–14.9% |
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+13.7% |
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–9.8% |
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+13.5% |
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–15.2% |
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+62.4% |
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–13.6% |
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+18.9% |
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Sales by region |
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EMLA |
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948 |
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1,678 |
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459 |
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602 |
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467 |
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702 |
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300 |
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285 |
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2,174 |
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3,267 |
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NA |
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661 |
|
814 |
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302 |
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313 |
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240 |
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325 |
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49 |
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41 |
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1,252 |
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1,493 |
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APAC |
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578 |
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1,014 |
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620 |
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989 |
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308 |
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494 |
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7 |
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6 |
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1,513 |
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2,503 |
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EBITDA |
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26 |
|
895 |
|
205 |
|
482 |
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190 |
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248 |
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(42) |
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(65) |
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379 |
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1,560 |
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EBIT |
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(181) |
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688 |
|
95 |
|
376 |
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128 |
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166 |
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(43) |
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(67) |
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(1) |
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1,163 |
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Depreciation, amortization, impairment losses and impairment loss reversals |
|
207 |
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207 |
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110 |
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106 |
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62 |
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82 |
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1 |
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2 |
|
380 |
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397 |
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Cash flows from operating activities |
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(79) |
|
490 |
|
103 |
|
245 |
|
134 |
|
177 |
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(97) |
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69 |
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61 |
|
981 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
|
168 |
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184 |
|
63 |
|
38 |
|
54 |
|
66 |
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1 |
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1 |
|
286 |
|
289 |
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Free operating cash flow |
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(247) |
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306 |
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40 |
|
207 |
|
80 |
|
111 |
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(98) |
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68 |
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(225) |
|
692 |
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Trade working capital2 |
|
959 |
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1,238 |
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650 |
|
760 |
|
497 |
|
675 |
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62 |
|
52 |
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2,168 |
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2,725 |
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1st quarter 2020 |
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2nd quarter 2020 |
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3rd quarter 2020 |
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4th quarter 2020 |
|
1st quarter 2021 |
|
2nd quarter 2021 |
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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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Sales |
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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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3,307 |
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3,956 |
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Polyurethanes |
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1,274 |
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913 |
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1,315 |
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1,519 |
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1,665 |
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1,841 |
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Polycarbonates |
|
733 |
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648 |
|
801 |
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803 |
|
889 |
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1,015 |
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Coatings, Adhesives, Specialties |
|
572 |
|
443 |
|
495 |
|
529 |
|
595 |
|
926 |
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Core volume growth1 |
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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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+5.3% |
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+35.0% |
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EBITDA |
|
254 |
|
125 |
|
456 |
|
637 |
|
743 |
|
817 |
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Polyurethanes |
|
50 |
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(24) |
|
220 |
|
379 |
|
443 |
|
452 |
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Polycarbonates |
|
109 |
|
96 |
|
148 |
|
200 |
|
222 |
|
260 |
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Coatings, Adhesives, Specialties |
|
130 |
|
60 |
|
99 |
|
52 |
|
114 |
|
134 |
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EBIT |
|
67 |
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(68) |
|
265 |
|
432 |
|
556 |
|
607 |
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Polyurethanes |
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(51) |
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(130) |
|
114 |
|
264 |
|
340 |
|
348 |
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Polycarbonates |
|
54 |
|
41 |
|
94 |
|
143 |
|
168 |
|
208 |
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Coatings, Adhesives, Specialties |
|
100 |
|
28 |
|
68 |
|
19 |
|
85 |
|
81 |
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Financial result |
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(39) |
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(17) |
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(22) |
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(13) |
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(29) |
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(18) |
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Income before income taxes |
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28 |
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(85) |
|
243 |
|
419 |
|
527 |
|
589 |
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Income after taxes |
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21 |
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(53) |
|
180 |
|
306 |
|
395 |
|
450 |
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Net income |
|
20 |
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(52) |
|
179 |
|
312 |
|
393 |
|
449 |
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Cash flows from operating activities |
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(110) |
|
171 |
|
538 |
|
635 |
|
428 |
|
553 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
|
139 |
|
147 |
|
177 |
|
241 |
|
110 |
|
179 |
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Free operating cash flow |
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(249) |
|
24 |
|
361 |
|
394 |
|
318 |
|
374 |
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