Covestro Group Key Data

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20181

  

2019

  

Change

 

  

€ million

  

€ million

  

%

1

Reference information was not restated, see Note 2.1 “Financial Reporting Standards Applied for the First Time in the Reporting Period.”

2

Core volume growth refers to the core products in the Polyurethanes, Polycarbonates and Coatings, Adhesives, Specialties segments. It is calculated as the percentage change in externally sold volumes in thousand tons compared with the prior year. Covestro also takes advantage of business opportunities outside its core business, for example the sale of precursors and by-products such as hydrochloric acid, sodium hydroxide solution and styrene. These transactions are not included in core volume growth.

3

Reference values calculated based on the definition of the core business effective March 31, 2019

4

EMLA: Europe, Middle East, Africa and Latin America (excl. Mexico) region

5

NAFTA: United States, Canada and Mexico region

6

APAC: Asia and Pacific region

7

EBITDA: EBIT plus depreciation and amortization

8

EBIT: income after income taxes plus financial result and income taxes

9

Net income: income after income taxes attributable to the stockholders of Covestro AG

10

Earnings per share: according to IAS 33, earnings per share comprise net income divided by the weighted average number of outstanding no-par voting shares of Covestro AG. The calculation was based on 182.728.724 no-par shares (previous year: 192.768.826 no-par shares).

11

Operating cash flows: cash flows from operating activities according to IAS 7

12

Free operating cash flow: operating cash flows less cash outflows for additions to property, plant, equipment and intangible assets

13

Excluding obligations for pensions and other post-employment benefits

14

As of December 31, 2019 compared with December 31, 2018

15

ROCE: The return on capital employed is calculated as the ratio of adjusted operating result (EBIT) after imputed income taxes to capital employed. The capital employed is the capital used by the company. It is the sum of noncurrent and current assets less noninterest-bearing liabilities such as trade accounts payable.

16

Employees calculated as full-time equivalents (FTE)

Core volume growth2, 3

  

+1.5%

  

+2.0%

  

 

Sales

  

14,616

  

12,412

  

–15.1

Change in sales

  

 

  

 

  

 

Volume

  

2.3 %

  

+0.8%

  

 

Price

  

4.5 %

  

–17.3%

  

 

Currency

  

–3.0 %

  

+1.9%

  

 

Portfolio

  

–0.4 %

  

–0.5%

  

 

Sales by region

  

 

  

 

  

 

EMLA4

  

6,284

  

5,289

  

–15.8

NAFTA5

  

3,469

  

3,141

  

–9.5

APAC6

  

4,863

  

3,982

  

–18.1

EBITDA7

  

3,200

  

1,604

  

–49.9

Changes in EBITDA

  

 

  

 

  

 

of which volume

  

+6.3%

  

+2.3%

  

 

of which price

  

+18.7%

  

–79.2%

  

 

of which raw material price effect

  

–16.8%

  

+15.1%

  

 

of which currency

  

–2.9%

  

+1.3%

  

 

EBIT8

  

2,580

  

852

  

–67.0

Financial result

  

(104)

  

(91)

  

–12.5

Net income9

  

1,823

  

552

  

–69.7

Earnings per share (€)10

  

9.46

  

3.02

  

–68.1

Operating cash flows11

  

2,376

  

1,383

  

–41.8

Cash outflows for additions to property, plant, equipment and intangible assets

  

707

  

910

  

+28.7

Free operating cash flow12

  

1,669

  

473

  

–71.7

Net financial debt13, 14

  

348

  

989

  

>100

ROCE15

  

29.5%

  

8.4%

  

 

Employees (in FTE)14, 16

  

16,770

  

17,201

  

+2.6