(CercleFinance.com) – Covestro announces that its sales reached 14.4 billion euros in 2023, down 20% compared to the same period a year earlier.
At the same time, EBITDA stood at 1.1 billion euros, down 33.2%.
The group thus recorded a net loss of 198 ME, lower than the loss of 272 ME recorded twelve months earlier.
The operational FCF stands at 232 ME, up 68.1%.
Dr. Markus Steilemann, Chairman and CEO of Covestro believes that ‘2023 has been one of the most challenging years for the chemical industry in recent decades, with continued geopolitical tensions, a struggling global economy and rising prices. high energy levels, particularly in Europe.
He also pointed to ‘a number of structural problems, particularly in Germany’ and said ‘weak overall demand for our core sectors is reflected in our profits accordingly’.
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