Quarterly Statement First Quarter 2023

Segment Information

Segment information 1st quarter

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance Materials

 

Solutions & Specialties

 

Others/Consolidation

 

Covestro Group

 

 

1st quarter 2022

 

1st quarter 2023

 

1st quarter 2022

 

1st quarter 2023

 

1st quarter 2022

 

1st quarter 2023

 

1st quarter 2022

 

1st quarter 2023

 

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

Sales (external)

 

2,388

 

1,792

 

2,222

 

1,883

 

73

 

68

 

4,683

 

3,743

Intersegment sales1

 

810

 

607

 

9

 

8

 

(819)

 

(615)

 

 

Sales (total)

 

3,198

 

2,399

 

2,231

 

1,891

 

(746)

 

(547)

 

4,683

 

3,743

Change in sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Volume

 

5.5%

 

–18.6%

 

–0.5%

 

–15.4%

 

90.1%

 

–7.4%

 

3.6%

 

–16.8%

Price

 

26.4%

 

–7.1%

 

19.4%

 

–0.5%

 

0.0%

 

0.0%

 

22.9%

 

–3.9%

Currency

 

5.3%

 

0.7%

 

5.9%

 

0.6%

 

2.0%

 

0.6%

 

5.6%

 

0.6%

Portfolio

 

0.0%

 

0.0%

 

20.5%

 

0.0%

 

0.0%

 

0.0%

 

9.5%

 

0.0%

Sales by region

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EMLA

 

1,142

 

839

 

873

 

755

 

59

 

56

 

2,074

 

1,650

NA

 

604

 

489

 

501

 

485

 

11

 

8

 

1,116

 

982

APAC

 

642

 

464

 

848

 

643

 

3

 

4

 

1,493

 

1,111

EBITDA2

 

620

 

173

 

224

 

165

 

(38)

 

(52)

 

806

 

286

EBIT2

 

475

 

29

 

152

 

63

 

(38)

 

(53)

 

589

 

39

Depreciation, amortization, impairment losses and impairment loss reversals

 

144

 

144

 

72

 

102

 

 

1

 

217

 

247

Cash flows from operating activities3

 

206

 

19

 

(101)

 

(5)

 

52

 

(33)

 

157

 

(19)

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

 

94

 

76

 

45

 

43

 

1

 

1

 

140

 

120

Free operating cash flow3

 

112

 

(57)

 

(146)

 

(48)

 

51

 

(34)

 

17

 

(139)

Trade working capital4

 

1,745

 

1,291

 

1,918

 

1,712

 

 

(27)

 

3,663

 

2,976

1

In accordance with internal reporting to the Board of Management since July 1, 2022, these figures also include sales recognized in the amount of cost of goods sold. To ensure comparability, the segment data is presented on a consistent basis.

2

EBITDA and EBIT include the effect on earnings of intersegment sales.

3

An imputed tax rate of 25% has been used since the Annual Report 2022 to calculate income taxes paid by the reportable segments; see note 4 “Segment and Regional Reporting” in the Notes to the Consolidated Financial Statements in the Annual Report 2022. The tax rate for the reference value has not changed.

4

Trade working capital includes inventories plus trade accounts receivable and contract assets, less trade accounts payable, contract liabilities, and refund liabilities as of March 31, 2022/2023.