FY 2024 guidance confirmed

Full year guidance 2024

FY 2023

GUIDANCE FY 2024

confirmed

EBITDA

€1,080m

€1,000 to 1,600m

FOCF

€232m

€0 to 300m

ROCE above WACC(1)

-6.1pp

-7 to -2pp

GHG emissions (scope 1 and 2)

4.9m tons

4.4 to 5.0m tons

Additional financial expectations

Sales

€14.4bn

€14.0 to 15.0bn

EBITDA Q2

€385m

€270 to 370m

D&A

€894m

~€850m

Financial result

€-113m

€-120 to -160m

Income tax

€275m

€250 to 350m

Capex(2)

€765m

~€800m

HIGHLIGHTS

2024 FX sensitivity

  • 1pp change equals
    +/- €10m for CNY/EUR (basis 7.80) +/- €5m for USD/EUR (basis 1.10)

FOCF range

  • Smaller range compared to EBITDA due to counterbalancing working capital effects

GHG emissions

  • GHG range mainly driven by expected increase in production volumes offset by EEG exit in Germany

Income tax

  • Income tax driven by unfavorable geographical earnings mix (non- deductible losses in Germany)
  • Long-termtax rate estimated between 24-26%(3)

1

Q1 2024 │ Earnings Call

Notes:

(1)

Weighted average cost of capital (WACC): 7.6% in FY 2023, 8.1% in FY2024e

(2)

Cash-relevant capex

(3)

Covestro estimate

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Disclaimer

Covestro AG published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 05:00:05 UTC.