BERLIN (dpa-AFX) - Covestro AG (CVVTF.PK) announced Loss for second quarter of -EUR59 million
The company's bottom line totaled -EUR59 million, or -EUR0.31 per share. This compares with -EUR72 million, or -EUR0.38 per share, last year.
The company's revenue for the period fell 8.4% to EUR3.379 billion from EUR3.690 billion last year.
Covestro AG earnings at a glance (GAAP) :
-Earnings: -EUR59 Mln. vs. -EUR72 Mln. last year. -EPS: -EUR0.31 vs. -EUR0.38 last year. -Revenue: EUR3.379 Bln vs. EUR3.690 Bln last year.
The Group sales declined to EUR 3.379 billion from the previous year's 3.690 billion. This drop in sales was mainly a result of macroeconomic developments following the increase in US import tariffs, which led to, in some cases abrupt, disruptions in the supply chains and downturns in exports to the United States.
Looking ahead, citing weak macroeconomic conditions, the company has revised down its fiscal 2025 EBITDA guidance to a range of EUR 700 million to EUR 1.100 billion from the earlier expectation of EUR 1 billion to EUR 1.400 billion.
Last year, Covestro had recorded EBITDA of EUR 1.071 billion.
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