Segment and Quarterly Overview
| Segment information 2nd quarter | ||||||||
|---|---|---|---|---|---|---|---|---|
| Performance Materials | Solutions & Specialties | Others /Reconciliation | Covestro Group | |||||
| 2nd quarter 2023 | 2nd quarter 2024 | 2nd quarter 2023 | 2nd quarter 2024 | 2nd quarter 2023 | 2nd quarter 2024 | 2nd quarter 2023 | 2nd quarter 2024 | |
| € million | € million | € million | € million | € million | € million | € million | € million | |
| Sales (external) | 1,789 | 1,834 | 1,872 | 1,810 | 59 | 46 | 3,720 | 3,690 |
| Intersegment sales | 557 | 571 | 7 | 6 | (564) | (577) | – | – |
| Sales (total) | 2,346 | 2,405 | 1,879 | 1,816 | (505) | (531) | 3,720 | 3,690 |
| Change in sales | ||||||||
| Volume | –10.3% | 15.0% | –4.7% | 4.8% | – | – | –8.0% | 9.3% |
| Price | –15.3% | –12.0% | –6.6% | –7.7% | – | – | –11.0% | –9.7% |
| Currency | –1.7% | –0.5% | –2.2% | –0.4% | – | – | –1.9% | –0.4% |
| Sales by region | ||||||||
| EMLA | 813 | 822 | 736 | 679 | 48 | 37 | 1,597 | 1,538 |
| NA | 476 | 451 | 487 | 457 | 8 | 7 | 971 | 915 |
| APAC | 500 | 561 | 649 | 674 | 3 | 2 | 1,152 | 1,237 |
| EBITDA1 | 302 | 196 | 221 | 174 | (138) | (50) | 385 | 320 |
| EBIT1 | 158 | 59 | 149 | 75 | (141) | (53) | 166 | 81 |
| Depreciation, amortization, impairment losses and impairment loss reversals | 144 | 137 | 72 | 99 | 3 | 3 | 219 | 239 |
| Cash flows from operating activities | 26 | 19 | 205 | 88 | (82) | (88) | 149 | 19 |
| Cash outflows for additions to property, plant, equipment and intangible assets | 103 | 108 | 55 | 52 | 1 | 6 | 159 | 166 |
| Free operating cash flow | (77) | (89) | 150 | 36 | (83) | (94) | (10) | (147) |
| Trade working capital2 | 1,428 | 1,199 | 1,701 | 1,614 | (24) | (19) | 3,105 | 2,794 |
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 June 30, 2023/2024.
| Segment information 1st half | ||||||||
|---|---|---|---|---|---|---|---|---|
| Performance Materials | Solutions & Specialties | Others /Reconciliation | Covestro Group | |||||
| 1st half 2023 | 1st half 2024 | 1st half 2023 | 1st half 2024 | 1st half 2023 | 1st half 2024 | 1st half 2023 | 1st half 2024 | |
| € million | € million | € million | € million | € million | € million | € million | € million | |
| Sales (external) | 3,581 | 3,523 | 3,755 | 3,577 | 127 | 100 | 7,463 | 7,200 |
| Intersegment sales | 1,164 | 1,127 | 15 | 13 | (1,179) | (1,140) | – | – |
| Sales (total) | 4,745 | 4,650 | 3,770 | 3,590 | (1,052) | (1,040) | 7,463 | 7,200 |
| Change in sales | ||||||||
| Volume | –14.4% | 16.2% | –10.1% | 5.3% | – | – | –12.5% | 10.0% |
| Price | –11.2% | –16.7% | –3.5% | –9.0% | – | – | –7.4% | –12.5% |
| Currency | –0.5% | –1.1% | –0.8% | –1.0% | – | – | –0.6% | –1.0% |
| Sales by region | ||||||||
| EMLA | 1,652 | 1,584 | 1,491 | 1,389 | 104 | 80 | 3,247 | 3,053 |
| NA | 965 | 868 | 972 | 901 | 16 | 15 | 1,953 | 1,784 |
| APAC | 964 | 1,071 | 1,292 | 1,287 | 7 | 5 | 2,263 | 2,363 |
| EBITDA1 | 475 | 299 | 386 | 382 | (190) | (88) | 671 | 593 |
| EBIT1 | 187 | 24 | 212 | 210 | (194) | (92) | 205 | 142 |
| Depreciation, amortization, impairment losses and impairment loss reversals | 288 | 275 | 174 | 172 | 4 | 4 | 466 | 451 |
| Cash flows from operating activities | 45 | 20 | 200 | 141 | (115) | (165) | 130 | (4) |
| Cash outflows for additions to property, plant, equipment and intangible assets | 179 | 182 | 98 | 83 | 2 | 7 | 279 | 272 |
| Free operating cash flow | (134) | (162) | 102 | 58 | (117) | (172) | (149) | (276) |
| Trade working capital2 | 1,428 | 1,199 | 1,701 | 1,614 | (24) | (19) | 3,105 | 2,794 |
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 June 30, 2023/2024.
| Quarterly Overview | ||||||
|---|---|---|---|---|---|---|
| 1st quarter 2023 |
2nd quarter 2023 |
3rd quarter 2023 |
4th quarter 2023 |
1st quarter 2024 |
2nd quarter 2024 |
|
| € million | € million | € million | € million | € million | € million | |
| Sales (external) | 3,743 | 3,720 | 3,568 | 3,346 | 3,510 | 3,690 |
| Performance Materials | 1,792 | 1,789 | 1,707 | 1,588 | 1,689 | 1,834 |
| Solutions & Specialties | 1,883 | 1,872 | 1,809 | 1,703 | 1,767 | 1,810 |
| EBITDA | 286 | 385 | 277 | 132 | 273 | 320 |
| Performance Materials1 | 173 | 302 | 85 | 16 | 103 | 196 |
| Solutions & Specialties1 | 165 | 221 | 246 | 185 | 208 | 174 |
| EBIT | 39 | 166 | 71 | (90) | 61 | 81 |
| Performance Materials1 | 29 | 158 | (52) | (126) | (35) | 59 |
| Solutions & Specialties1 | 63 | 149 | 178 | 107 | 135 | 75 |
| Financial result | (29) | (36) | (35) | (13) | (30) | (29) |
| Income before income taxes | 10 | 130 | 36 | (103) | 31 | 52 |
| Income after income taxes | (27) | 45 | (31) | (189) | (37) | (74) |
| Net income | (26) | 46 | (31) | (187) | (35) | (72) |
| Cash flows from operating activities | (19) | 149 | 490 | 377 | (23) | 19 |
| Cash outflows for additions to property, plant, equipment and intangible assets | 120 | 159 | 182 | 304 | 106 | 166 |
| Free operating cash flow | (139) | (10) | 308 | 73 | (129) | (147) |
1 The earnings of the Performance Materials and Solutions & Specialties reportable segments include the effect of intersegment sales on earnings.