Covestro celebrates its first year of milestones

14 October 2016

Covestro is turning one: The materials manufacturer has been standing on its own two feet for a year now and can look back on a fast successful development. Following the official separation from the Bayer Group on September 1, 2015, the former Bayer MaterialScience established itself on the international capital market with the largest stock market flotation in Germany since 2000. The past 12 months were also extremely gratifying for Covestro from a financial standpoint.

"We have completed a complex transformation process in a short time and shown what we are capable of. We are very proud of that”, said CEO Patrick Thomas. "A XL startup, Covestro has developed to the great satisfaction of its customers, investors and other stakeholders.” Thomas pointed out that the operating result (adjusted EBITDA) has been increased each quarter since the company became independent. Relative to the issue price of €24, the share price has approximately doubled now.

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