2024 was a stormy year.
We therefore met the challenges with flexibility and foresight.
We fully focused on what we have in our hands.
That includes efficiency, costs and capacity utilization.
In addition,
we further sharpened our strategy
to take account of the many momentous
and rapid developments in our industry
and in an increasingly complex, uncertain world.
In particular,
we intensified the customer focus in everything we do.
At the same time,
we stayed the course for our major long-term goals:
to align Covestro completely with the circular economy
and make it climate-neutral.
We underpinned our pioneering role in this area last year
with many measures,
including additional direct contracts for the supply of green energy,
new partnerships for innovative recycling,
for example, in the automotive industry,
and the completion of our ambitious climate targets.
Overall,
we made Covestro more weatherproof,
streamlined and future-oriented.
The planned acquisition by ADNOC is the right step
at the right time for Covestro.
I am looking forward to it,
as it is in the best interest of Covestro,
our shareholders,
our employees
and all other stakeholders.
The Board of Management and the Supervisory Board
unanimously agree that ADNOC is a strong
and long-term oriented partner.
This will help us
to execute our strategy even more consistently,
enabling us to further strengthen
our foundation for sustainable growth
in highly attractive sectors
and make an even greater contribution
to the green transformation.
ADNOC shares our ambitions,
is absolutely convinced of our vision to become fully circular,
and values our unique
“We are 1” corporate culture.
We therefore recommended that our shareholders
accept the takeover offer,
and are pleased
that such a significant majority followed our recommendation.
When I look ahead to 2025,
I basically think positively.
At the same time,
I am a realist:
2025 will not be easy either.
But when I see how well our company is positioned,
I have no doubt
that we will master the new fiscal year
even under the further difficult conditions.
But perhaps the economy will pick up
and other framework conditions change in our favor.
What feeds my optimism above all
are our employees with their know-how,
their commitment,
and the very special spirit
that is based on our culture and values.
They deserve my greatest thanks.
In the future,
we will promote agile cooperation
in the company even more strongly
and make sure that skills and talents
are used in a tailor-made way.
At the same time,
we encourage and empower everyone
to take advantage of the immense opportunities
offered by digitalization and artificial intelligence,
because this opens up sensational new possibilities
for us everywhere.
Overall,
I am full of confidence for Covestro -
far beyond 2025.