| 2023 | 2024 | Change | |
| Sales | €14,377 million | €14,179 million | –1.4% |
| Change in sales | |||
| Volume | –6.8% | 7.4% | |
| Price | –11.0% | –8.0% | |
| Currency | –2.2% | –0.8% | |
| Sales by region | |||
| EMLA1 | €5,941 million | €5,848 million | –1.6% |
| NA2 | €3,735 million | €3,507 million | –6.1% |
| APAC3 | €4,701 million | €4,824 million | 2.6% |
| EBITDA4 | €1,080 million | €1,071 million | –0.8% |
| Changes in EBITDA | |||
| Volume | –23.7% | 37.0% | |
| Price | –122.5% | –106.9% | |
| Raw material price | 96.8% | 59.4% | |
| Currency | –4.7% | –1.4% | |
| Other5 | 20.9% | 11.1% | |
| EBIT6 | €186 million | €87 million | –53.2% |
| Financial result | (€113 million) | (€114 million) | 0.9% |
| Net income7 | (€198 million) | (€266 million) | 34.3% |
| Earnings per share8 | (€1.05) | (€1.41) | 34.3% |
| Cash flows from operating activities9 | €997 million | €870 million | –12.7% |
| Cash outflows for additions to property, plant, equipment and intangible assets | €765 million | €781 million | 2.1% |
| Free operating cash flow10 | €232 million | €89 million | –61.6% |
| Net financial debt11, 12 | €2,487 million | €2,618 million | 5.3% |
| Return on capital employed (ROCE)13 | 1.5% | 0.7% | |
| Weighted average cost of capital (WACC)14 | 7.6% | 8.1% | |
| ROCE above WACC13, 14 | –6.1% points | –7.4% points | |
| Employees12, 15 | 17,516 FTE | 17,503 FTE | –0.1% |
| Greenhouse gas emissions (CO2equivalents)16 | 4.9 million metric tons | 4.7 million metric tons | –4.1% |
1 EMLA: Europe, Middle East, Latin America (excluding Mexico), Africa region.
2 NA: North America region (Canada, Mexico, United States).
3 APAC: Asia and Pacific region.
4 Earnings before interest, taxes, depreciation and amortization (EBITDA): EBIT plus depreciation, amortization, and impairment losses; less impairment loss reversals on property, plant and equipment and intangible assets.
5 Other changes in EBITDA.
6 Earnings before interest and taxes (EBIT): income after income taxes plus financial result and income taxes.
7 Net income: income after income taxes attributable to the shareholders of Covestro AG.
8 Earnings per share: according to IAS 33 (Earnings per Share), net income divided by the weighted average number of outstanding no-par value voting shares of Covestro AG. The calculation for fiscal 2024 was based on 188,740,330 no-par shares (previous year: 189,262,192 no-par shares).
9 Cash flows from operating activities according to IAS 7 (Statement of Cash Flows).
10 Free operating cash flow (FOCF): cash flows from operating activities less cash outflows for additions to property, plant, equipment and intangible assets.
11 Excluding provisions for pensions and other post-employment benefits.
12 As of December 31 in each case.
13 Return on capital employed (ROCE): ratio of EBIT after imputed income taxes to capital employed. Imputed income taxes are calculated by multiplying an imputed tax rate of 25% by EBIT.
14 Weighted average cost of capital (WACC): weighted average cost of capital reflecting the expected return on the company’s equity and debt capital.
15 Employees calculated as full-time equivalents (FTEs).
16 Greenhouse gas (GHG) emissions (Scope 1 and Scope 2, GHG Protocol) at main production sites (responsible for more than 95% of our energy usage).