Covestro AG : Shanghai-hit Q2, prudence thereafter. Heavily discounted, though
>Shanghai-hit takes € 250m EBITDA off Q2/FY EBITDA - A good Q1 with a 4% beat of consensus expectations and 8% y-o-y growth in EBITDA to € 806m was overshadowed by a singled out event in particular hitting Covestro’s single largest Asian production site in the Shanghai region: Covid-lockdown. While reports on easing restrictions are coming up, damage is done to Covestro’s Q2 and FY outlook. Management clarified that the related € 250m headwind from China/Shanghai re...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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