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 further improved business outlook for the second half-year. The new expectation exceeds the previously provided forecast as well as current capital market expectations.
The outlook factors in - unchanged - the acquisition of the Resins & Functional Materials (RFM) business of Koninklijke DSM N.V., Heerlen (Netherlands), which was closed on April 1, 2021.
Capital market expectations are based on the average values of the latest consensus estimates of financial analysts, published by Vara Research on July 7, 2021.
Covestro adjusts its forecast for fiscal year 2021 as follows:
The increased EBITDA forecast is based on a preliminary EBITDA for Q2 2021 of around EUR 815 million, that meets the current forecast of between EUR 730 million and EUR 870 million. The consensus expects this figure to be EUR 828 million.
The half-year financial report 2021 will be published on August 6, 2021.
12-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
+49 (0) 214 60095098
+49 (0) 214 60097002
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
End of Announcement
DGAP News Service