FRANKFURT Feb 20 Covestro, the
plastics maker that parent Bayer plans to divest,
reported a higher-than-expected earnings increase for the fourth
quarter, as it managed to raise prices and volumes.
The maker of foam chemicals and transparent plastics said
quarterly earnings before interest, taxes, depreciation and
amortisation (EBITDA), adjusted for special items, rose 52
percent to 390 million euros ($414 million), well above the 341
million euros expected on average in a Reuters poll of analysts.
The company said it was targeting a low-to-mid single-digit
percentage increase in sales volumes of its main products for
($1 = 0.9424 euros)
(Reporting by Ludwig Burger; Editing by Maria Sheahan)