Covestro: well oriented after its annual results

© Reuters. Covestro: well oriented after its annual results

Covestro gained 3.1% in Frankfurt, after the publication of a net income more than doubled by 2017, two billion euros, and its proposal of a dividend of 2.20 euros per share, compared to 1.35 euro previously.

The German group of chemistry of materials has seen its EBITDA annual increase of 71% to € 3.4 billion, on revenues up 18.8% to $ 14.1 billion, supported by a high demand for plastics of high performance.

For 2018, the former subsidiary of Bayer (DE:BAYGN) (which has recently reduced its stake to 14.2%) report that they anticipate a robust growth in its key customer industries such as automotive, construction and electronics.

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