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India

Covestro AG (1COV.DE)

1COV.DE on Xetra

51.22EUR
24 Apr 2019
Change (% chg)

€-1.02 (-1.95%)
Prev Close
€52.24
Open
€52.16
Day's High
€52.16
Day's Low
€50.64
Volume
1,261,888
Avg. Vol
1,400,520
52-wk High
€83.98
52-wk Low
€41.42

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Mon, Feb 25 2019

UPDATE 2-Covestro warns earnings could halve as competition heats up

* Shares fall as much as 5 percent (Adds analyst comment, shares)

Covestro says 2019 EBITDA could halve as competition heats up

FRANKFURT, Feb 25 German chemicals maker Covestro said its 2019 core earnings could fall to as little as half of last year's level as rivals removed production bottlenecks.

UPDATE 1-Covestro to cut 900 jobs in 350 mln euros efficiency push

* Q3 EBITDA 859 mln eur vs 830 mln eur poll avg (Adds details on earnings development, outlook)

Covestro aims to cut costs by 350 mln eur from 2021

FRANKFURT, Oct 25 Germany's Covestro plans to reduce costs by 350 million euros ($400 million) per year from 2021, aiming to reign in an increase in expenses from an investment push to widen output capacity.

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