Covestro AG : Q2 at/above upper end of guidance keeps FY on track; 25% German gas curtailment scenario may affect 6% of capacity, cost low-to mid-2-digit/month
>Q2 at/above upper end of EBITDA guidance on lower "Shanghai" outage effect, 9% above consensus - We joined a sell side lunch of Covestro with its CEO Steilemann. Reopening of the Shanghai region, the single largest regional production footprint of Covestro with c. 25% of capacity in key products, limited the related closure burden to around 50% or € 125m of the envisaged € 250m burden announced in early May alongside Covestro's € 500m profit warning. Management indic...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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