Quarterly Statement First Quarter 2023

Investors
Media
Downloads

Financial Documents

Covestro Group Key Data

 

 

 

 

 

 

 

 

 

1st quarter 2022

 

1st quarter 2023

 

Change

Sales

 

€4,683 million

 

€3,743 million

 

–20.1%

Change in sales

 

 

 

 

 

 

Volume

 

3.6%

 

–16.8%

 

 

Price

 

22.9%

 

–3.9%

 

 

Currency

 

5.6%

 

0.6%

 

 

Portfolio

 

9.5%

 

0.0%

 

 

EBITDA1

 

€806 million

 

€286 million

 

–64.5%

Changes in EBITDA

 

 

 

 

 

 

Volume

 

5.2%

 

–36.2%

 

 

Price

 

101.9%

 

–22.5%

 

 

Raw material price

 

–110.4%

 

–11.8%

 

 

Currency

 

6.9%

 

0.0%

 

 

Other2

 

4.8%

 

6.0%

 

 

EBIT3

 

€589 million

 

€39 million

 

–93.4%

Financial result

 

(€28 million)

 

(€29 million)

 

3.6%

Net income4

 

€416 million

 

(€26 million)

 

.

Earnings per share5

 

€2.15

 

(€0.14)

 

.

Cash flows from operating activities6

 

€157 million

 

(€19 million)

 

.

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

 

€140 million

 

€120 million

 

–14.3%

Free operating cash flow7

 

€17 million

 

(€139 million)

 

.

1

Earnings before interest, taxes, depreciation and amortization (EBITDA): EBIT plus depreciation, amortization, and impairment losses; less impairment loss reversals on intangible assets and property, plant and equipment.

2

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

3

Earnings before interest and taxes (EBIT): income after income taxes plus financial result and income taxes.

4

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

5

Earnings per share: according to IAS (Earnings per Share), net income divided by the weighted average number of outstanding no-par value voting shares of Covestro AG. The calculation for the first quarter of 2023 was based on 189,948,365 no-par value shares (previous year: 193,143,311 no-par value shares).

6

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

7

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