Covestro AG : Q3 EBITDA -2% vs. css, reduced EBITDA 23 outlook leaves 4% css d/s; SBB terminated early for technical reasons; no comment on ADNOC, as expected
>Q3 EBITDA 2% below cons. of € 282m (ODDO €289m) on higher LTI provision, otherwise in line - Q3 EBITDA of € 277m came in 2% below the consensus forecast of € 282m (ODDO € 289m) on € 19m higher LTI provisions, i.e. would have been at mid-point of the € 240-340m guidance range. Q3 2023 is sequentially down 28% q-o-q vs € 385m in Q2 2023 and down 8% y-o-y vs. € 302m in Q3 2022. € 25m y-o-y EBITDA decline was primarily fuelled by € 69m positive price vs costs delta ...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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