1. General Information

Information on the consolidated interim financial statements

Pursuant to Section 115 of the German Securities Trading Act (WpHG), the consolidated interim financial statements of Covestro AG, Leverkusen (Germany), (Covestro AG), as of June 30, 2019, have been prepared according to the International Financial Reporting Standards (IFRSs) — including IAS 34 (Interim Financial Reporting) – of the International Accounting Standards Board (IASB), London (United Kingdom), the Interpretations (IFRICs) of the IFRS Interpretations Committee (IFRS IC), and the interpretations published by the Standing Interpretations Committee (SIC), endorsed by the European Union and in effect at the closing date.

The accounting policies and measurement principles described in the consolidated financial statements as of December 31, 2018, were applied unchanged in preparing the consolidated interim financial statements as of June 30, 2019, subject to the effects of financial reporting standards adopted for the first time in the current fiscal year as described in Note 2.1 “Financial Reporting Standards Applied for the First Time in the Reporting Period.” Reference information for previous periods has not been restated for new financial reporting standards.

The consolidated interim financial statements are drawn up in euros. Amounts are stated in millions of euros (€ million) except where otherwise indicated.

Exchange rates

In the reporting period, the following exchange rates were used for the major currencies of relevance to the Covestro Group:

Closing Rates for Major Currencies

 

 

 

 

 

 

 

 

 

 

 

 

 

Closing rates

€1/

 

 

 

June 30, 2018

 

Dec. 31, 2018

 

June 30, 2019

BRL

 

Brazil

 

4.49

 

4.44

 

4.35

CNY

 

China

 

7.72

 

7.87

 

7.82

HKD

 

Hong Kong

 

9.15

 

8.97

 

8.89

INR

 

India

 

79.81

 

79.73

 

78.52

JPY

 

Japan

 

129.04

 

125.85

 

122.60

MXN

 

Mexico

 

22.88

 

22.49

 

21.82

USD

 

United States

 

1.17

 

1.15

 

1.14

Average Rates for Major Currencies

 

 

 

 

 

 

 

 

 

 

 

Average rates

€1/

 

 

 

1st half 2018

 

1st half 2019

BRL

 

Brazil

 

4.13

 

4.34

CNY

 

China

 

7.70

 

7.68

HKD

 

Hong Kong

 

9.49

 

8.86

INR

 

India

 

79.44

 

79.10

JPY

 

Japan

 

131.63

 

124.33

MXN

 

Mexico

 

23.07

 

21.65

USD

 

United States

 

1.21

 

1.13