| Key data | ||||||
|---|---|---|---|---|---|---|
| 4th quarter 2024 | 4th quarter 2025 | Change | 2024 | 2025 | Change | |
| Sales | €3,376 million | €2,915 million | –13.7% | €14,179 million | €12,942 million | –8.7% |
| Change in sales | ||||||
| Volume | 3.2% | –1.3% | 7.4% | –0.9% | ||
| Price | –2.1% | –7.8% | –8.0% | –5.2% | ||
| Currency | –0.2% | –4.6% | –0.8% | –2.6% | ||
| Sales by region | ||||||
| EMLA | €1,335 million | €1,093 million | –18.1% | €5,848 million | €5,181 million | –11.4% |
| NA | €829 million | €750 million | –9.5% | €3,507 million | €3,378 million | –3.7% |
| APAC | €1,212 million | €1,072 million | –11.6% | €4,824 million | €4,383 million | –9.1% |
| EBITDA1 | €191 million | €91 million | –52.4% | €1,071 million | €740 million | –30.9% |
| Depreciation, amortization and impairment losses and impairment loss reversals | €322 million | €415 million | 28.9% | €984 million | €1,087 million | 10.5% |
| EBIT2 | (€131 million) | (€324 million) | 147.3% | €87 million | (€347 million) | . |
| Financial result | (€31 million) | (€29 million) | –6.5% | (€114 million) | (€145 million) | 27.2% |
| Net income3 | (€192 million) | (€412 million) | 114.6% | (€266 million) | (€644 million) | 142.1% |
| Operating cash flows4 | €612 million | €301 million | –50.8% | €870 million | €487 million | –44.0% |
| Cash outflows for additions to property, plant, equipment and intangible assets | €359 million | €214 million | –40.4% | €781 million | €770 million | –1.4% |
| Free operating cash flow5 | €253 million | €87 million | –65.6% | €89 million | (€283 million) | . |
| Net financial debt6 | €2,618 million | €1,796 million | –31.4% | |||
| Return on capital employed (ROCE)7 | 0.7% | –2.9% | ||||
| Weighted average cost of capital (WACC)8 | 8.1% | 7.3% | ||||
| ROCE above WACC7, 8 | –7.4% points | –10.2% points | ||||
1 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.
2 Earnings before interest and taxes (EBIT): income after income taxes plus financial result and income taxes.
3 Net income: income after income taxes attributable to the shareholders of Covestro AG.
4 Cash flows from operating activities according to IAS 7 (Statement of Cash Flows).
5 Free operating cash flow (FOCF): cash flows from operating activities less cash outflows for additions to property, plant, equipment and intangible assets.
6 As of December 31 in each case.
7 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.
8 Weighted average cost of capital (WACC): weighted average cost of capital reflecting the expected return on the company’s equity and debt capital.