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Covestro Preliminary Net Loss At About EUR 60 Million
Neste Establishes Strategic Cooperation With Covestro
Covestro To Cut Salaries By 15% For 6 Months From June 1, 2020
Covestro AG is a Germany-based company engaged in the manufacturing of polymer materials. It develops, produces and markets polyurethanes, polycarbonates and raw materials, as well as coatings, adhesives and other specialties. The Company's activities are divided into three segments: Polyurethanes, offering precursors, such as flexible polyurethane foam primarily used in the furniture and automotive industries, and rigid foam used as insulating material in the construction industry and in refrigeration chains; Polycarbonates, providing plastic polycarbonates in the form of granules, composite materials, and semi-finished products for use in the automotive, construction, medical technology, lighting industries, among others; and Coatings, Adhesives, Specialties, producing precursors for coatings, adhesives, sealants and specialties, as well as polymer materials and aqueous dispersions for use in automotive and transportation, wood processing and furniture applications, among others.
Containers & Packaging
Independent Chairman of the Supervisory Board
Chairman of the Management Board, Chief Executive Officer
Vice Chairman of the Supervisory Board
Member of the Management Board, Chief Financial Officer, Labor Director
Member of the Management Board, Chief Technology Officer
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German chemicals group Covestro <1COV.DE> on Thursday said it expected its second quarter results, due to be published on July 23, would come in above market expectations.
Covestro expects to beat quarterly core profit expectations by more than 50%, the German chemicals maker said on Thursday.
German chemicals maker Covestro <1COV.DE> believes it can weather the coronavirus crisis thanks to its balanced customer base, geographical mix and strong balance sheet, the company said on Wednesday.
* COVESTRO CFO SAYS IS CURRENTLY NOT PLANNING TO APPLY FOR STATE AID Further company coverage:
German chemicals maker Covestro reported an 89% plunge in quarterly profit on Wednesday, hurt by weak demand in China due to coronavirus pandemic-driven production disruptions and as strong competition led to a decline in products prices.
German chemicals maker Covestro <1COV.DE> on Wednesday withdrew its 2020 forecast due to the negative impact of the new coronavirus on business and core volume growth in the first quarter.
* COVESTRO SIGNS EUR 2.5 BILLION NEW SYNDICATED REVOLVING CREDIT FACILITY WITH ESG ELEMENT FOR THE FIRST TIME
* COVESTRO SAYS Q1 EBITDA GUIDANCE INCLUDES NEGATIVE CORONAVIRUS EFFECT OF EUR 60 MLN
German chemicals maker Covestro forecast lower first-quarter and 2020 core profit on Wednesday after missing fourth-quarter revenue expectations, citing the impact of the coronavirus outbreak, increased competition and lower prices for its key products.
German chemicals maker Covestro forecast lower first quarter and 2020 core profits on Wednesday after slightly missing fourth-quarter revenue expectations, citing stiff competition and low prices for its key products.
German chemicals and plastics maker Covestro's <1COV.DE> chief executive said it was still hard to carry out takeover deals that create value amid stubbornly high asset prices.
German chemicals maker Covestro AG <1COV.DE> narrowed its full-year forecast on Monday amid a challenging economic environment, particularly in the automotive sector, as it reported mixed third-quarter results.
German chemicals maker Covestro AG <1COV.DE> confirmed its full-year core profit outlook on Wednesday, saying it met its second-quarter targets despite challenging global economic conditions, competitive pressures and weakness in the automotive industry.
German chemicals maker Covestro said core profit fell 58 percent, with product prices under pressure as rivals bolster their output.
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.
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.
German chemicals maker Covestro <1COV.DE> 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.
Germany's Covestro <1COV.DE> 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.
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.
* Baytown project expenditures to peak 2021-2023 (Adds CEO comment on rival projects, investment spread over time)
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.