At the same time, the plastics manufacturer's sales fell by 1.4 per cent due to lower selling prices.
 

The company announced this at its annual press conference and the presentation of the 2024 annual report at the end of February. According to the report, Covestro consistently pursued its transformation process in fiscal 2024 despite a persistently difficult market environment. Targeted measures to increase plant availability are reportedly the reason why the company was able to achieve higher sales volumes worldwide. At the same time, sales decreased from EUR 14.4 billion in 2023 to EUR 14.2 billion, mainly due to lower selling prices, according to Covestro. For 2024, Covestro reports a loss of EUR 266 million (2023: 198).
 
‘We stayed firmly on course in 2024 and continued to push ahead with our transformation at full speed – despite the challenges that the entire chemical industry once again faced,’ says Dr. Markus Steilemann, CEO of Covestro. ’We are determinedly continuing along this path. With targeted investments in our competitiveness and sustainable future technologies, we are laying the foundation for long-term growth.’ Christian Baier, CFO of Covestro, adds: ‘In 2025, we will continue to optimise our structures and make Covestro fit for the future.’ Covestro also expects the economic environment to remain challenging in 2025 and anticipates an operating profit (EBITDA) of between 1.0 and 1.6 billion euros for the current fiscal year. For the first quarter of 2025, the group expects an operating profit of between 50 and 150 million euros.
 
Sources:

• Press release Covestro (26.2.2025)
• Photo: © Covestro