Covestro AG : RS feedback: CFO confirms comfort with € 2.7bn EBITDA 2022 consensus, implied € 1bn margin headwind 'conservative', pricing power lasts
>2022 bridge reiterated, comfortable with € 2.7bn consensus (ODDO BHF € 2,772m) while implied -€ 1bn y-o-y from spread 'normalisation' looks 'conservative’ - We hosted our first physical roadshow in 18 months with Covestro's CFO Töpfer in Frankfurt, fully confirming our positive stance on the stock. CFO Töpfer confirmed bridge items shared at Q3 call from € 3.1bn guidance mid-point for 2021, including € 400m EBITDA growth from volume (mid-point of mid-to-high 1-digit ...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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