Covestro AG : Constructive on ADNOC, recovery underway. Stay tuned
>Good finish: Volume recovery ends 6 quarters of decline, better S&S, good FCF - Covestro reported a good finish of a challenging 2023 with Q4 2023 group volume recovery to 3.1% y-o-y (o/w PM +7.7%) ending six quarters of annual volume decline. Plant availability issues in PM also weighed throughout 2023, turning a tailwind in 2024. S&S-EBITDA was the positive surprise, almost matching ‘normal’ Q4 2020 levels. FCF 2023 of € 232m finished strongly.ADNOC – ...Covestro AG is a global supplier of high-tech polymer materials and application solutions developed for these materials. Co. produces precursors for polyurethane foams and the high-performance plastic polycarbonate in addition to raw materials for coatings, adhesives and sealants as well as specialty products, including high-quality films. Other precursors such as chlorine and by-products like styrene are part of Co.'s range of products.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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