Leverkusen, Germany – Polyurethane raw materials manufacturer Covestro said it expects its EBITDA to be between EUR2.7 and EUR3.1bn in the 2021 financial year.
The company has upgraded its outlook because it believes trading conditions will improve in the second half of the year. Although volumes will still grow by between 10-15%, there is an improved margin outlook for the second half of the year.
Covestro released the upgrade on the basis that its second quarter EBITDA will be about EUR815m, which is in the middle of the analysts' range.
The company plans to report its half-year numbers on 6 August.