| 2nd quarter 2024 | 2nd quarter 2025 | Change | 1st half 2024 | 1st half 2025 | Change | |
| Sales | €3,690 million | €3,379 million | –8.4% | €7,200 million | €6,856 million | –4.8% |
| Change in sales | ||||||
| Volume | 9.3% | –0.4% | 10.0% | –0.5% | ||
| Price | –9.7% | –4.8% | –12.5% | –3.0% | ||
| Currency | –0.4% | –3.2% | –1.0% | –1.3% | ||
| Sales by region | ||||||
| EMLA1 | €1,538 million | €1,349 million | –12.3% | €3,053 million | €2,871 million | –6.0% |
| NA2 | €915 million | €911 million | –0.4% | €1,784 million | €1,799 million | 0.8% |
| APAC3 | €1,237 million | €1,119 million | –9.5% | €2,363 million | €2,186 million | –7.5% |
| EBITDA4 | €320 million | €270 million | –15.6% | €593 million | €407 million | –31.4% |
| Changes in EBITDA5 | ||||||
| Volume | 35.6% | 7.5% | 41.4% | 9.1% | ||
| Price | –92.7% | –55.0% | –139.0% | –36.4% | ||
| Raw material price | 47.8% | 23.8% | 87.2% | 7.3% | ||
| Currency | –0.8% | –4.1% | –2.4% | –1.0% | ||
| Other6 | –6.8% | 12.2% | 1.5% | –10.4% | ||
| EBIT7 | €81 million | €49 million | –39.5% | €142 million | (€48 million) | . |
| Financial result | (€29 million) | (€38 million) | 31.0% | (€59 million) | (€82 million) | 39.0% |
| Net income8 | (€72 million) | (€59 million) | –18.1% | (€107 million) | (€219 million) | 104.7% |
| Earnings per share9 | (€0.38) | (€0.31) | –18.4% | (€0.57) | (€1.16) | 103.5% |
| Cash flows from operating activities10 | €19 million | (€43 million) | . | (€4 million) | (€116 million) | . |
| Cash outflows for additions to property, plant, equipment and intangible assets | €166 million | €185 million | 11.4% | €272 million | €365 million | 34.2% |
| Free operating cash flow11 | (€147 million) | (€228 million) | 55.1% | (€276 million) | (€481 million) | 74.3% |
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 Since January 1, 2025, certain distribution expenses have been shown in the “Raw material price” item and no longer in the “Other” item. The prior-year figure has not been adjusted.
6 Other changes in EBITDA such as changes in provisions for variable compensation.
7 Earnings before interest and taxes (EBIT): income after income taxes plus financial result and income taxes.
8 Net income: income after income taxes attributable to the shareholders of Covestro AG.
9 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 was based on 188,740,330 no-par shares for the second quarter of 2025 (previous year: 188,740,330 no-par shares) and on 188,740,330 no-par shares for the first half of 2025 (previous year: 188,740,330 no-par shares).
10 Operating cash flows: cash flows from operating activities according to IAS 7 (Statement of Cash Flows).
11 Free operating cash flow (FOCF): cash flows from operating activities less cash outflows for additions to property, plant, equipment and intangible assets.