| Segment information 4th quarter | ||||||||
|---|---|---|---|---|---|---|---|---|
| Performance Materials | Solutions & Specialties | Others / Reconciliation | Covestro Group | |||||
| 4th quarter 2024 | 4th quarter 2025 | 4th quarter 2024 | 4th quarter 2025 | 4th quarter 2024 | 4th quarter 2025 | 4th quarter 2024 | 4th quarter 2025 | |
| € million | € million | € million | € million | € million | € million | € million | € million | |
| Sales (external) | 1,670 | 1,344 | 1,654 | 1,526 | 52 | 45 | 3,376 | 2,915 |
| Intersegment sales | 510 | 432 | 7 | 5 | (517) | (437) | – | – |
| Sales (total) | 2,180 | 1,776 | 1,661 | 1,531 | (465) | (392) | 3,376 | 2,915 |
| Change in sales | ||||||||
| Volume | 5.6% | –4.6% | 1.3% | 2.4% | – | – | 3.2% | –1.3% |
| Price | –0.1% | –10.9% | –4.0% | –5.0% | – | – | –2.1% | –7.8% |
| Currency | –0.3% | –4.0% | –0.2% | –5.1% | – | – | –0.2% | –4.6% |
| Sales by region | ||||||||
| EMLA | 739 | 521 | 556 | 536 | 40 | 36 | 1,335 | 1,093 |
| NA | 400 | 374 | 420 | 367 | 9 | 9 | 829 | 750 |
| APAC | 531 | 449 | 678 | 623 | 3 | – | 1,212 | 1,072 |
| EBITDA1 | 145 | 39 | 150 | 129 | (104) | (77) | 191 | 91 |
| EBIT1 | (55) | (301) | 30 | 56 | (106) | (79) | (131) | (324) |
| Depreciation, amortization, impairment losses and impairment loss reversals | 200 | 340 | 120 | 73 | 2 | 2 | 322 | 415 |
| Cash flows from operating activities | 355 | 260 | 368 | 287 | (111) | (246) | 612 | 301 |
| Cash outflows for additions to property, plant, equipment and intangible assets | 226 | 136 | 110 | 62 | 23 | 16 | 359 | 214 |
| Free operating cash flow | 129 | 124 | 258 | 225 | (134) | (262) | 253 | 87 |
| Trade working capital2 | 964 | 919 | 1,447 | 1,285 | (20) | (27) | 2,391 | 2,177 |
1 EBITDA and EBIT include the effect of intersegment sales on earnings.
2 Trade working capital includes inventories plus trade accounts receivable and contract assets, less trade accounts payable, contract liabilities, and refund liabilities as of December 31, 2025/2024.
| Segment information full year | ||||||||
|---|---|---|---|---|---|---|---|---|
| Performance Materials | Solutions & Specialties | Others / Reconciliation | Covestro Group | |||||
| 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | 2025 | |
| € million | € million | € million | € million | € million | € million | € million | € million | |
| Sales (external) | 6,970 | 6,128 | 7,004 | 6,621 | 205 | 193 | 14,179 | 12,942 |
| Intersegment sales | 2,228 | 1,987 | 27 | 26 | (2,255) | (2,013) | – | – |
| Sales (total) | 9,198 | 8,115 | 7,031 | 6,647 | (2,050) | (1,820) | 14,179 | 12,942 |
| Change in sales | ||||||||
| Volume | 11.9% | –2.9% | 4.0% | 1.2% | – | – | 7.4% | –0.9% |
| Price | –9.6% | –6.7% | –6.8% | –3.8% | – | – | –8.0% | –5.2% |
| Currency | –0.9% | –2.5% | –0.8% | –2.9% | – | – | –0.8% | –2.6% |
| Sales by region | ||||||||
| EMLA | 3,102 | 2,568 | 2,585 | 2,464 | 161 | 149 | 5,848 | 5,181 |
| NA | 1,720 | 1,693 | 1,755 | 1,650 | 32 | 35 | 3,507 | 3,378 |
| APAC | 2,148 | 1,867 | 2,664 | 2,507 | 12 | 9 | 4,824 | 4,383 |
| EBITDA1 | 569 | 375 | 740 | 681 | (238) | (316) | 1,071 | 740 |
| EBIT1 | (42) | (416) | 374 | 392 | (245) | (323) | 87 | (347) |
| Depreciation, amortization, impairment losses and impairment loss reversals | 611 | 791 | 366 | 289 | 7 | 7 | 984 | 1,087 |
| Cash flows from operating activities | 574 | 392 | 671 | 618 | (375) | (523) | 870 | 487 |
| Cash outflows for additions to property, plant, equipment and intangible assets | 496 | 496 | 254 | 232 | 31 | 42 | 781 | 770 |
| Free operating cash flow | 78 | (104) | 417 | 386 | (406) | (565) | 89 | (283) |
| Trade working capital2 | 964 | 919 | 1,447 | 1,285 | (20) | (27) | 2,391 | 2,177 |
1 EBITDA and EBIT include the effect of intersegment sales on earnings.
2 Trade working capital includes inventories plus trade accounts receivable and contract assets, less trade accounts payable, contract liabilities, and refund liabilities as of December 31, 2025/2024.
| Quarterly Overview | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1st quarter 2024 |
2nd quarter 2024 |
3rd quarter 2024 |
4th quarter 2024 |
1st quarter 2025 |
2nd quarter 2025 |
3rd quarter 2025 |
4th quarter 2025 | |
| € million | € million | € million | € million | € million | € million | € million | € million | |
| Sales (external) | 3,510 | 3,690 | 3,603 | 3,376 | 3,477 | 3,379 | 3,171 | 2,915 |
| Performance Materials | 1,689 | 1,834 | 1,777 | 1,670 | 1,677 | 1,618 | 1,489 | 1,344 |
| Solutions & Specialties | 1,767 | 1,810 | 1,773 | 1,654 | 1,745 | 1,713 | 1,637 | 1,526 |
| EBITDA | 273 | 320 | 287 | 191 | 137 | 270 | 242 | 91 |
| Performance Materials1 | 103 | 196 | 125 | 145 | 13 | 149 | 174 | 39 |
| Solutions & Specialties1 | 208 | 174 | 208 | 150 | 181 | 175 | 196 | 129 |
| EBIT | 61 | 81 | 76 | (131) | (97) | 49 | 25 | (324) |
| Performance Materials1 | (35) | 59 | (11) | (55) | (144) | 1 | 28 | (301) |
| Solutions & Specialties1 | 135 | 75 | 134 | 30 | 106 | 104 | 126 | 56 |
| Financial result | (30) | (29) | (24) | (31) | (44) | (38) | (34) | (29) |
| Income before income taxes | 31 | 52 | 52 | (162) | (141) | 11 | (9) | (353) |
| Income after income taxes | (37) | (74) | 31 | (192) | (161) | (59) | (46) | (377) |
| Net income | (35) | (72) | 33 | (192) | (160) | (59) | (47) | (378) |
| Cash flows from operating activities | (23) | 19 | 262 | 612 | (73) | (43) | 302 | 301 |
| Cash outflows for additions to property, plant, equipment and intangible assets | 106 | 166 | 150 | 359 | 180 | 185 | 191 | 214 |
| Free operating cash flow | (129) | (147) | 112 | 253 | (253) | (228) | 111 | 87 |
1 The earnings of the Performance Materials and Solutions & Specialties reportable segments include the effect of intersegment sales on earnings.