Covestro AG : Q4 EBITDA 26% above cons, EBITDA 2024 outlook 5% below cons at mid-point; no comment on ADNOC, no dividend, as expected
>Q4 EBITDA of € 132m 26% above cons of € 105m (ODDO € 79m) on better S&S and Q4 volume turnaround - Q4 EBITDA of € 132m came in 26% above the consensus forecast of € 105m (ODDO € 79m) on a significantly better contribution from S&S. Q4 2023 is sequentially down 52% q-o-q compared to € 277m in Q3 2023 but turned around y-o-y vs -€ 38m in Q4 2022. The € 170m y-o-y EBITDA turnaround was primarily fuelled by € 52m from volume recovery to 3.1% y-o-y (Q3 2023: -3.8% y-o-y) ...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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