COVESTRO AG (FRA:DE000606) Covestro AG: Preliminary EBITDA of EUR 124 million in Q2 2020 is above market expectation

Transparency directive : regulatory news

09/07/2020 11:56

DGAP-Ad-hoc: Covestro AG / Key word(s): Preliminary Results/Quarter Results
Covestro AG: Preliminary EBITDA of EUR 124 million in Q2 2020 is above market expectation

09-Jul-2020 / 11:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

In the course of preparing the half-year financial report 2020 for the Covestro Group, preliminary Q2 key financial data deviate from capital market expectations, based on the average values of latest consensus estimates of financial analysts, published by Vara Research on July 8, 2020.

Therefore, Covestro provides already today the following Q2 pre-release of the Group half-year financial report 2020:

Preliminary sales amount to EUR 2,156 million in Q2'20. Consensus expects this number to be EUR 2,223 million.
Preliminary volume effect in sales amounts to -22% in Q2'20. Consensus expects this number to be -22.5%.
Preliminary EBITDA amounts to EUR 124 million in Q2'20. Consensus expects this number to be EUR 80 million.
Preliminary net income amounts to around EUR -60 million in Q2'20. Consensus expects this number to be EUR -107 million.

The entire half-year financial report 2020 will be published on July 23, 2020.

Forward-looking statements
This ad-hoc statement may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Contact for investors:
Ronald Köhler, Head of Investor Relations
Phone: +49 214 6009 5098
E-mail: ronald.koehler@covestro.com

Contact for media:
Lars Boelke, Global Corporate Media Relations
Phone: +49 214 6009 4206
E-mail: lars.boelke@covestro.com

09-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:	English
Company:	Covestro AG
	Kaiser-Wilhelm-Allee 60
	51373 Leverkusen
	Germany
Phone:	+49 (0) 214 60095098
Fax:	+49 (0) 214 60097002
E-mail:	ronald.koehler@covestro.com
Internet:	www.covestro.com
ISIN:	DE0006062144
WKN:	606214
Indices:	DAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1090013


End of Announcement	DGAP News Service

1090013 09-Jul-2020 CET/CEST

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COVESTRO AG (FRA:DE000606) Covestro AG: Preliminary EBITDA of EUR 124 million in Q2 2020 is above market expectation

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