Covestro: stock down after Q1 results

(CercleFinance.com) - The Covestro share is down over 2% in Frankfurt today, after the German  high-tech polymer materials group published EPS that is down 70% at 0.
98 euro for the first three months of 2019, with EBITDA falling 58% to 442 million euros.

Turnover contracted by 16% to 3.2 billion euros under the weight of a sharp fall in sales prices, while volumes fell by 1.8%, particularly penalised by the polycarbonates segment.

For FY 2019, the group has confirmed that it expects EBITDA between 1.5 billion and 2 billion euros, as well as low or mid single-digit growth in core volumes.



Copyright (c) 2019 CercleFinance.com. All rights reserved.