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Covestro AG (1COV.DE)

1COV.DE on Xetra

92.76EUR
3:53pm GMT
Change (% chg)

€2.76 (+3.07%)
Prev Close
€90.00
Open
€93.30
Day's High
€93.60
Day's Low
€90.64
Volume
894,969
Avg. Vol
699,250
52-wk High
€95.78
52-wk Low
€61.95

Latest Key Developments (Source: Significant Developments)

Covestro expects 85 mln eur positive one-off from U.S. tax cuts
Monday, 15 Jan 2018 

Jan 15 (Reuters) - Covestro AG <1COV.DE> says::EXPECTS POSITIVE EFFECT FROM RECENTLY ENACTED U.S. TAX REFORM‍​.POSITIVE ONE-TIME EFFECT OF ABOUT EUR 85 MILLION ON NET INCOME EXPECTED IN 2017.ADJUSTS THE GUIDANCE FOR ITS GROUP TAX RATE FROM ABOUT 28% TO ABOUT 24% FOR FINANCIAL YEAR 2017.ALSO EXPECTS A POSITIVE IMPACT ON 2018, LOWERING THE COMPANY'S GROUP TAX RATE BY ONE TO TWO PERCENTAGE POINTS IN COMPARISON WITH THE ORIGINALLY EXPECTED GROUP TAX RATE..  Full Article

Covestro Renewed Management Board Contract With Klaus Schaefer
Thursday, 11 Jan 2018 

Jan 11 (Reuters) - Covestro AG <1COV.DE>::COVESTRO RENEWED CONTRACT WITH BOARD OF MANAGEMENT MEMBER DR. KLAUS SCHÄFER.HAS EXTENDED CONTRACT OF KLAUS SCHÄFER BY FIVE YEARS UNTIL THE END OF 2022 ON JANUARY 1, 2018.  Full Article

Covestro and Haier sign global strategic cooperation agreement​
Monday, 30 Oct 2017 

Oct 30 (Reuters) - COVESTRO AG <1COV.DE>::‍COVESTRO AND HAIER SIGN GLOBAL STRATEGIC COOPERATION AGREEMENT​.  Full Article

Covestro will seek approval for more buybacks -CEO
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Covestro <1COV.DE>:Ceo says share buyback was maximum allowed under agm vote, will ask for approval at next agm to buy back another 10 percent of stock capital.Ceo says multiples to pay in m&a have been "way too high", couldn't find anything that was value-creating.Ceo says will lift 2021 cumulative cash flow target at the end of this year or early next year.  Full Article

Covestro aiming for at least 1.78 bln eur in FY EBITDA
Tuesday, 26 Jul 2016 

Covestro <1COV.DE> CFO to Reuters : Aiming for at least 1.78 billion EUR in EBITDA for the full year, up from an adjusted 1.64 billion in 2015 . Expects no special items in 2016 Further company coverage: [1COV.DE] ((frankfurt.newsroom@thomsonreuters.com; +49 69 7565 1270;)).  Full Article

Recticel and Covestro join forces on new CO2 based polyol
Tuesday, 12 Jul 2016 

Recticel SA : Recticel and Covestro <1COV.DE> join forces on new CO2 based polyol .New technology will be implemented in Q4.  Full Article

Covestro issues bond in the total amount of 1.5 billion euros
Friday, 4 Mar 2016 

Covestro AG:Successfully placed a first bond in the total amount of 1.5 billion euros.Bond is divided into two fixed-interest tranches with terms of 5.5 years (coupon 1.00 pct, amount 500 million euros) and 8.5 years (coupon 1.75 pct, amount 500 million euros).As well as a variable-interest tranche (amount 500 million euros) with a term of 2 years and a spread of 0.60 pct over the 3-month Euribor.Proceeds will be primarily used to refinance a portion of the remaining loans from the Bayer Group that totaled 2.1 billion euros as of the end of 2015.  Full Article

UPDATE 2-Covestro says it's raking in cash faster than expected

* Shares rise 2.7 pct to top of sector index (Adds shares, share buybacks, analyst quote, background on economy)