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Covestro AG (1COV.DE)

1COV.DE on Xetra

52.24EUR
4:35pm BST
Change (% chg)

€-0.80 (-1.51%)
Prev Close
€53.04
Open
€53.06
Day's High
€53.06
Day's Low
€52.24
Volume
945,709
Avg. Vol
1,412,352
52-wk High
€83.98
52-wk Low
€41.42

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Mon, Feb 25 2019

Covestro warns earnings could halve as competition heats up

FRANKFURT German chemicals maker Covestro said core profit could halve this year as rivals increase production and demand from customers such as the Asian car industry slows.

UPDATE 2-Covestro warns earnings could halve as competition heats up

* Shares fall as much as 5 percent (Adds analyst comment, shares)

Covestro says 2019 EBITDA could halve as competition heats up

FRANKFURT, Feb 25 German chemicals maker Covestro said its 2019 core earnings could fall to as little as half of last year's level as rivals removed production bottlenecks.

Covestro cuts 2018 profit outlook on competition, shipping costs

FRANKFURT German chemicals maker Covestro warned it expected a slight decrease in earnings this year compared with a gain seen previously, leading its shares to slump to a two-year low.

Covestro to cut 900 jobs in 350 million euros efficiency push

FRANKFURT Germany's Covestro plans to cut 900 jobs globally and reduce costs by 350 million euros (310 million pounds) per year from 2021, aiming to reign in an increase in expenses from an investment push to widen output capacity.

UPDATE 1-Covestro to cut 900 jobs in 350 mln euros efficiency push

* Q3 EBITDA 859 mln eur vs 830 mln eur poll avg (Adds details on earnings development, outlook)

Covestro aims to cut costs by 350 mln eur from 2021

FRANKFURT, Oct 25 Germany's Covestro plans to reduce costs by 350 million euros ($400 million) per year from 2021, aiming to reign in an increase in expenses from an investment push to widen output capacity.

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