Covestro AG : Q1 EBITDA 15% above cons on strong volumes; outlook confirmed, leaving cons 4% above mid-point; no update on ADNOC, as expected. Good start
>Q1 EBITDA of € 273m, 15% above cons of € 237m (ODDO BHF € 248m) on strong 10.9% y-o-y volume recovery - Q1 EBITDA of € 273m came in 15% above the consensus forecast of € 237m (ODDO BHF € 248m) on a better contribution from both segments. Q1 2024 sequentially doubled q-o-q compared to € 132m in Q4 2023 but still slightly below last year's comparison base of € 286m in Q1 2023. The y-o-y EBITDA decline of only € 13m was primarily fuelled by € 139m from volume recovery ...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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