Quarterly Statement Third Quarter 2023

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Segment Information

Segment information 3rd quarter

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance Materials

 

Solutions & Specialties

 

Others/Consolidation

 

Covestro Group

 

 

3rd quarter 2022

 

3rd quarter 2023

 

3rd quarter 2022

 

3rd quarter 2023

 

3rd quarter 2022

 

3rd quarter 2023

 

3rd quarter 2022

 

3rd quarter 2023

 

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

Sales (external)

 

2,330

 

1,707

 

2,196

 

1,809

 

92

 

52

 

4,618

 

3,568

Intersegment sales

 

760

 

542

 

11

 

6

 

(771)

 

(548)

 

–

 

–

Sales (total)

 

3,090

 

2,249

 

2,207

 

1,815

 

(679)

 

(496)

 

4,618

 

3,568

Change in sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Volume

 

–6.2%

 

–2.4%

 

–7.2%

 

–3.7%

 

–

 

–

 

–5.7%

 

–3.8%

Price

 

5.2%

 

–19.9%

 

5.7%

 

–8.9%

 

–

 

–

 

5.4%

 

–14.3%

Currency

 

7.6%

 

–4.4%

 

7.6%

 

–5.0%

 

–

 

–

 

7.6%

 

–4.6%

Portfolio

 

0.0%

 

0.0%

 

0.0%

 

0.0%

 

–

 

–

 

0.0%

 

0.0%

Sales by region

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EMLA

 

970

 

695

 

798

 

653

 

73

 

39

 

1,841

 

1,387

NA

 

702

 

465

 

543

 

461

 

16

 

10

 

1,261

 

936

APAC

 

658

 

547

 

855

 

695

 

3

 

3

 

1,516

 

1,245

EBITDA1

 

53

 

85

 

280

 

246

 

(31)

 

(54)

 

302

 

277

EBIT1

 

(107)

 

(52)

 

207

 

178

 

(34)

 

(55)

 

66

 

71

Depreciation, amortization, impairment losses and impairment loss reversals

 

160

 

137

 

73

 

68

 

3

 

1

 

236

 

206

Cash flows from operating activities2

 

227

 

438

 

142

 

247

 

(123)

 

(195)

 

246

 

490

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

 

134

 

121

 

77

 

62

 

2

 

(1)

 

213

 

182

Free operating cash flow2

 

93

 

317

 

65

 

185

 

(125)

 

(194)

 

33

 

308

Trade working capital3

 

1,704

 

1,163

 

2,085

 

1,669

 

(7)

 

(24)

 

3,782

 

2,808

1

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

2

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.

3

Trade working capital includes inventories plus trade accounts receivable and contract assets, less trade accounts payable, contract liabilities, and refund liabilities as of September 30, 2022/2023.
Segment information first nine months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance Materials

 

Solutions & Specialties

 

Others/Consolidation

 

Covestro Group

 

 

1st nine months 2022

 

1st nine months 2023

 

1st nine months 2022

 

1st nine months 2023

 

1st nine months 2022

 

1st nine months 2023

 

1st nine months 2022

 

1st nine months 2023

 

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

 

€ million

Sales (external)

 

7,179

 

5,288

 

6,583

 

5,564

 

242

 

179

 

14,004

 

11,031

Intersegment sales

 

2,323

 

1,706

 

28

 

21

 

(2,351)

 

(1,727)

 

–

 

–

Sales (total)

 

9,502

 

6,994

 

6,611

 

5,585

 

(2,109)

 

(1,548)

 

14,004

 

11,031

Change in sales

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Volume

 

–0.2%

 

–10.4%

 

–5.4%

 

–8.0%

 

–

 

–

 

–1.8%

 

–9.5%

Price

 

15.6%

 

–14.1%

 

11.6%

 

–5.3%

 

–

 

–

 

13.5%

 

–9.7%

Currency

 

6.6%

 

–1.8%

 

6.7%

 

–2.2%

 

–

 

–

 

6.7%

 

–2.0%

Portfolio

 

0.0%

 

0.0%

 

5.7%

 

0.0%

 

–

 

–

 

2.7%

 

0.0%

Sales by region

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EMLA

 

3,367

 

2,347

 

2,522

 

2,144

 

193

 

143

 

6,082

 

4,634

NA

 

1,931

 

1,430

 

1,607

 

1,433

 

39

 

26

 

3,577

 

2,889

APAC

 

1,881

 

1,511

 

2,454

 

1,987

 

10

 

10

 

4,345

 

3,508

EBITDA1

 

1,040

 

560

 

717

 

632

 

(102)

 

(244)

 

1,655

 

948

EBIT1

 

572

 

135

 

498

 

390

 

(108)

 

(249)

 

962

 

276

Depreciation, amortization, impairment losses and impairment loss reversals

 

468

 

425

 

219

 

242

 

6

 

5

 

693

 

672

Cash flows from operating activities2

 

528

 

483

 

(42)

 

447

 

(355)

 

(310)

 

131

 

620

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

 

360

 

300

 

178

 

160

 

5

 

1

 

543

 

461

Free operating cash flow2

 

168

 

183

 

(220)

 

287

 

(360)

 

(311)

 

(412)

 

159

Trade working capital3

 

1,704

 

1,163

 

2,085

 

1,669

 

(7)

 

(24)

 

3,782

 

2,808

1

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

2

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.

3

Trade working capital includes inventories plus trade accounts receivable and contract assets, less trade accounts payable, contract liabilities, and refund liabilities as of September 30, 2022/2023.