Covestro AG : Q4 EBITDA 5% below, but M2M 10% above upper-end of € 2.5-3.0bn outlook, in-line at mid-point; div € 3.40/share (7%) & € 500m (c. 5%) SBB
>Q4 EBITDA 5% below consensus on lower-than-expected pricing delta - Q4-EBITDA of € 663m was up 4% y-o-y (-23% q-o-q) and 5% below consensus forecast of € 698m primarily on € 142m y-o-y pricing delta while € 18m volume headwind curtailed by constrained plant availability, as expected. EBITDA 2022 guidance of € 2.75bn at mid-point fully in-line with consensus/ODDO BHF € 2,727m/€ 2,772m; M2M suggests € 3.3bn - EBITDA guidance range of € 2.5-3.0bn large...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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