Covestro: hailed for raising annual targets

(CercleFinance.com) - The Covestro share is up over 3% in Frankfurt on Wednesday, in demand the day after the material chemicals group raised its EBITDA and free operating cash flow (FOCF) targets for 2020, thanks to better-than-expected business in Q4.


The German company now expects EBITDA of 1,440-1,500 million euros, compared to a previous estimate of around 1,200 million euros, while it forecasts FOCF of 400-550 million euros, against zero and 300 million euros previously.


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