Covestro hails strong 2018 performance despite m - sportstextiles: Lea SportsTextiles

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Covestro hails strong 2018 performance despite mounting challenges

28/02/2019
Polymer manufacturer Covestro has reported full-year sales revenues of €14.6 billion for 2018, an increase of 3.4% compared to the previous year. Earnings before tax reached €3.2 billion, which is 6.8% down on the figure for 2017.

The company described its 2018 performance as strong in the face of challenges that “mounted throughout the year”. It said its earnings had suffered because of a weaker fourth quarter. It lowered prices on some products and margins declined as a result.

On releasing the figures, chief executive, Dr Markus Steilemann, said: “Demand for our high-tech materials remains intact. We launched important strategic initiatives in 2018 to promote growth. These include investments in specific business segments with above-average demand potential and a stronger focus on efficiency.”


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