BERLIN (dpa-AFX) - Polymer company Covestro (CVVTF.PK, COVTY.PK) reported that its second-quarter net income dropped 68.7 percent to 189 million euros from last year, reflecting lower margins in the Polyurethanes and Polycarbonates segments.
Group sales fell 16.9 percent to 3.2 billion euros, due to lower selling prices.
For fiscal 2019, Covestro continues to project core volume growth to be in the low- to mid-single-digit percentage range. EBITDA for the fiscal year is forecasted to be between 1.5 billion euros and 2.0 billion euros, while in the third quarter, the EBITDA is expected to be around 410 million euros.
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