Covestro AG: Raised earnings outlook for 2021
DGAP-Ad-hoc: Covestro AG / Key word(s): Change in Forecast/Preliminary Results Covestro is raising its forecast for EBITDA, free operating cash flow (FOCF) and return on capital employed (ROCE) for fiscal year 2021 as a result of a better than previously expected business development. The new expectation exceeds the previously provided forecast as well as current capital market expectations. Capital market expectations are based on the average values of the latest consensus estimates of financial analysts, published by Vara Research on April 12, 2021. Covestro adjusts its forecast for fiscal year 2021 as follows:
The increased EBITDA forecast is based on a preliminary EBITDA for Q1 2021 of EUR 743 million and an expected EBITDA for Q2 2021 between EUR 730 million and EUR 870 million. The outlook factors in the acquisition of the Resins & Functional Materials (RFM) business of Koninklijke DSM N.V., Heerlen (Netherlands), which was closed on April 1, 2021, and the integration into the Coatings, Adhesives, Specialties segment. One-time costs that could arise in conjunction with the transformation program "LEAP" have not been considered. The Q1 2021 interim statement will be published on April 28, 2021. Forward-looking statements
13-Apr-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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: | 1184346 |
End of Announcement | DGAP News Service |
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1184346 13-Apr-2021 CET/CEST