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43 Current news of covestrorss
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Five focus areas: Biotech, 3D printing, digitalization, circularity and new markets
Covestro is a start-up investor: With its Covestro Venture Capital (COVeC) approach, the company seeks to combine the needs of start-ups in areas such as financing, expertise and network with its own strategic goals with the goal of ensuring long-term sustainable development. “We are committed to ...
Covestro has achieved its targets in a challenging market environment in fiscal 2019. Core volumes increased by 2.0% compared to the previous year. Group sales fell by 15.1% to approximately EUR 12.4 billion as selling prices remained low due to increased competitive pressure in all segments. ...
New circular economy program launched
In the third quarter of 2019 Covestro was able to achieve core volume growth of 5.3% over the prior-year period in a continuing challenging economic environment. At the same time, Group sales declined as expected by 14.6% to EUR 3.2 billion due to continued lower selling prices. At EUR 425 ...
Sale is part of Covestro’s efforts to optimize its portfolio
Covestro has signed an agreement with Serafin Group for the sale of Covestro’s European polycarbonate sheets business, which comprises manufacturing units in Belgium and Italy, central management operations and sales support in Europe. The business generates total revenues of around EUR 130 ...
Winners of the first Start-up Challenge continue their own venture
This year’s Start-up Challenge at Covestro is now getting down to the facts: The six best international start-up ideas have now been picked and the teams are preparing for the grand final. The winner of the company’s internal contest will be selected at the K 2019 trade fair for plastics and ...
Covestro continues portfolio optimization
Covestro has signed an agreement with H.I.G. Capital (“H.I.G.”) for the sale of Covestro’s European Systems Houses business. H.I.G. focuses on investments in small and mid-sized companies. The sales proceeds amount to a high-double-digit euro million sum. The decision to sell the systems houses ...
Results influenced by challenging environment as expected
As expected, higher competitive pressure influenced the first quarter 2019 results of DAX-listed Covestro. Despite an overall solid demand, core volumes decreased slightly by 1.8%, mainly due to lower volumes in the Polycarbonates segment. A marked drop in selling prices led to a reduction in ...
2019 guidance influenced by further volume growth and lower margins
Covestro generated strong results in 2018 while challenges mounted throughout the year. Core volumes increased 1.6%, and Group sales rose by 3.4% to EUR 14.6 billion. After a weaker fourth quarter, Covestro could not achieve earnings at the previous year’s levels, which were marked by an ...
Comprehensive analysis of Chinese founders’ landscape
The vast Chinese start-up ecosystem is a new field of engagement for the materials manufacturer Covestro. For this reason, the company, together with the market research consultants of ‘KAIROS Future’, facilitated a new, comprehensive study of the broad landscape that has developed over recent ...
Cost savings targeted at EUR 350 million per year
Covestro continued its positive business performance in 2018 with a solid third quarter in an increasingly challenging market environment. Group sales grew by 4.8% to EUR 3.7 billion over the same quarter in 2017 thanks to higher selling prices and volumes sold. Core volumes were up marginally by ...