Covestro has sound 2016 despite lower sales

摘要

Cologne, Germany — 2016 was a record year for Covestro, the company said. Volumes were up 7.5% and there was greater capacity utilisation, although sales fell by 1.5% to €11.9 bn ($12.8 bn) as a result of lower prices and foreign exchange effects. The company said that its EBITDA was up 41.9% to €2 bn. Volumes in its polyurethanes business were up by 7.7% compared to 2015, and sales were down 2.6% at €5.9 bn, compared to €6.1 bn the previous year.