Covestro AG - Company Profile
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Covestro AG (Covestro) is a provider of high-tech polymers. It develops and manufactures raw materials for polyurethanes, and their derivatives, coatings, adhesives and other specialties, polycarbonates, and specialty chemicals. Additionally, the business produces and sells byproducts like styrene as well as chlorine. The company provides its offerings to various kinds of industries such as automotive, construction, fashion, and sportswear, electrical and electronics, cosmetics, health, chemical, and wood processing and furniture. It operates research laboratories, technical service centers and sales offices across the world. The company operates in North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. Covestro is headquartered in Leverkusen, Germany.
Headquarters
Germany
Address
Kaiser-Wilhelm-Allee 60, Leverkusen, Nordrhein-Westfalen, 51373
Website
www.covestro.de
Telephone
49 214 60092000
No of Employees
17,520
Industry
Chemicals
Ticker Symbol & Exchange
1COV (ETR)
Revenue (2022)
$15.5B
-20%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
27.2%
(2022 vs 2021)
Market Cap*
$10.2B
Net Profit Margin (2022)
XYZ
8.6%
(2022 vs 2021)
* As of and is in US$
Covestro AG premium industry data and analytics
Products and Services
| Products | Brands |
|---|---|
| Products | Actaclear |
| Additives | Acclaim Polyol |
| Adhesives | Apec |
| XYZ | XYZ |
| XYZ | XYZ |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2024 | Contracts/Agreements | In February, the company and RWE entered into a power purchase agreement to provide power from offshore wind turbines in the North Sea to the Covestro production facility in Antwerp, Belgium. |
| 2024 | Contracts/Agreements | In January, the company entered into an agreement with Encina under which Encina will supply chemically recycled raw materials. |
| 2023 | New Products/Services | In November, the company and HiPhi launched a joint laboratory at the China International Import Expo. |
Competitor Comparison
| Key Parameters | Covestro AG | BASF SE | Saudi Basic Industries Corp | Wanhua Chemical Group Co Ltd | Celanese Corp |
|---|---|---|---|---|---|
| Headquarters | Germany | Germany | Saudi Arabia | China | United States of America |
| City | Leverkusen | Ludwigshafen Am Rhein | Riyadh | Yantai | Irving |
| State/Province | Nordrhein-Westfalen | Rheinland-Pfalz | - | Shandong | Texas |
| No. of Employees | 17,520 | 111,991 | 33,000 | 29,053 | 12,410 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Richard Pott | Chairman | Executive Board | - | - |
| Christian Baier | Chief Financial Officer; Director | Executive Board | 2023 | - |
| Markus Steilemann | Chief Executive Officer | Senior Management | 2018 | 51 |
| Thorsten Dreier | Director - Labour; Chief Technology Officer | Senior Management | 2023 | - |
| Sucheta Govil | Chief Commercial Officer | Senior Management | 2019 | 58 |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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