Covestro Group Consolidated Income Statement
3rd quarter 2023 | 3rd quarter 2024 | 1st nine months 2023 | 1st nine months 2024 | |
€ million | € million | € million | € million | |
Sales | 3,568 | 3,603 | 11,031 | 10,803 |
Cost of goods sold | (3,011) | (3,032) | (9,157) | (8,988) |
Gross profit | 557 | 571 | 1,874 | 1,815 |
Selling expenses | (366) | (368) | (1,130) | (1,144) |
Research and development expenses | (86) | (85) | (284) | (274) |
General administration expenses | (84) | (77) | (263) | (230) |
Other operating income | 80 | 47 | 228 | 100 |
Other operating expenses | (30) | (12) | (149) | (49) |
EBIT1 | 71 | 76 | 276 | 218 |
Equity-method loss | (5) | (2) | (17) | (2) |
Result from other affiliated companies | 1 | 2 | 1 | 2 |
Interest income | 19 | 14 | 53 | 43 |
Interest expense | (44) | (39) | (127) | (111) |
Other financial result | (6) | 1 | (10) | (15) |
Financial result | (35) | (24) | (100) | (83) |
Income before income taxes | 36 | 52 | 176 | 135 |
Income taxes | (67) | (21) | (189) | (215) |
Income after income taxes | (31) | 31 | (13) | (80) |
attributable to noncontrolling interest | – | (2) | (2) | (6) |
attributable to Covestro AG shareholders (net income) | (31) | 33 | (11) | (74) |
€ | € | € | € | |
Basic /Diluted earnings per share2 | (0.16) | 0.17 | (0.06) | (0.39) |
1 Earnings before interest and taxes (EBIT): income after income taxes plus financial result and income taxes.
2 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 for the third quarter of 2024 was based on 188,740,330 no-par value shares (previous year: 188,740,330 no-par value shares) and on 188,740,330 no-par value shares for the first nine months of 2024 (previous year: 189,438,057 no-par value shares).