Covestro (Leverkusen, Germany) today reported large increases in second-quarter earnings and sales, citing robust demand for polymers. Net income more than doubled year-on-year (YOY) to €484 million ($563.9 million) from €230 million in the second quarter of 2016. EBITDA was up 56.5 to €848 million and EBIT 88.7 higher at €687 million. Sales grew 17 to €3.5 billion, due mainly to higher selling prices. Core volumes, however, dropped by 1.6 against a strong prior- year quarter. Covestro says it is optimistic for the medium term.
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