Covestro: dividend up, despite EPS falling

(CercleFinance.com) - The German chemicals materials group Covestro has announced its intention to raise its dividend by 9% to 2.
40 euros per share, despite the publication of FY 2018 EPS that is down 4.7% at 9.46 euros.

The group saw its FY EBITDA fall by 6.8% to 3.2 billion euros, penalised by a decline in sales prices and margins in the second half, while its revenues actually increased by 3.4% to 14.6 billion euros and its “core” volumes were up 1.6%.

Due to increased competitive pressure, Covestro expects EBITDA of between 1.5 billion and 2 billion euros for FY 2019, as well as low or mid single-digit growth in core volumes.


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