Covestro buyback after “strongest” ever quarter

covestroLeverkusen, Germany – Covestro is to carry out a shares buyback of up to €1.5 billion of stock capital following, what it said, was its strongest ever quarter since its spin-off from Bayer in 2015.

Building on positive first-half trends, third-quarter earnings (EBITDA) at the Leverkusen-based materials company came in 50.2% higher at €862 million, on sales of €3.5 billion, 16.9% higher than in the same period last year.

In a 24 Oct announcement, the polyurethanes, polycarbonate and…

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