BERLIN (dpa-AFX) - Shares of Covestro (CVVTF.PK, COVTY.PK) were gaining around 3 percent in German trading after the specialty chemicals company reported Thursday narrower-than-expected net loss in its second quarter.
For the quarter, the company's preliminary net loss amounted 60 million euros, compared to market consensus of a loss of 107 million euros.
Preliminary EBITDA amounts to 124 million euros, above market expectation of 80 million euros.
Further, sales for the quarter is 2.16 billion euros, compared to consensus estimate of 2.22 billion euros. Preliminary volume effect in sales amounts to negative 22 percent, compared to negative 22.5 percent of market estimate.
The company plans to release its entire half-year financial report on July 23.
In Germany, Covestro shares were trading at 35.49 euros, up 3.11 percent.
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