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    1COV   DE0006062144

COVESTRO AG

(1COV)
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H.B. Fuller and Covestro Join Forces to Make Adhesives More Sustainable

07/22/2021 | 04:00am EDT

H.B. Fuller announced a strategic partnership with Covestro, to deliver an adhesive with a reduced climate impact for the woodworking, composites, textiles and automotive industries. The new ingredient used in H.B. Fuller's adhesive is a bio-attributed raw material created via a mass balance approach and will replace a proportion of previous fossil raw materials. Renewable raw materials are used as feedstock at the very beginning of the value chain and processed together with fossil-based ingredients in the same production units. The characteristic of the renewable feedstock process is then attributed to the end-product. The usage of an equivalent amount of the alternative feedstock is guaranteed by Covestro through a third party verified certification method. By gradually converting its production to alternative raw materials and working with reliable partners, who in turn collaborate with many certified suppliers, Covestro aims to replace fossil materials and make its value chains more sustainable. As mentioned, the correct raw material balance, the allocation method, and the raw material sourcing – according to defined sustainability standards – is ensured via an independent third-party certification. H.B. Fuller is able to use the new drop-in solution immediately in its existing manufacturing processes without any technical conversion. No adjustments are required at its customers’ facilities either. Product quality is in no way inferior to conventional counterparts, but the lower attributed CO2 footprint makes products more sustainable. In fact, the company has made sure that its customers' own products and processes will not be compromised in any way. The 'reformulation' of the reactive hot melt adhesive has no impact on its performance, nor on their customers' own manufacturing and can be treated in exactly the same way as the product it replaces. Both companies believe that the strategic agreement and the innovative process they are now launching together can play a major role in driving the circular economy forward, reducing carbonemissions and replacing the extraction of finite resources with partly renewable raw materials.


ę S&P Capital IQ 2021
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Analyst Recommendations on COVESTRO AG
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Financials
Sales 2021 14 132 M 16 523 M 16 523 M
Net income 2021 1 422 M 1 663 M 1 663 M
Net Debt 2021 1 016 M 1 188 M 1 188 M
P/E ratio 2021 7,56x
Yield 2021 4,80%
Capitalization 10 690 M 12 548 M 12 498 M
EV / Sales 2021 0,83x
EV / Sales 2022 0,78x
Nbr of Employees 18 039
Free-Float 97,0%
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Technical analysis trends COVESTRO AG
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 55,34 €
Average target price 67,37 €
Spread / Average Target 21,7%
EPS Revisions
Managers and Directors
Markus Steilemann Chief Executive Officer
Thomas Toepfer Chief Financial Officer & Labor Director
Richard Pott Chairman-Supervisory Board
Klaus Schńfer Chief Technology Officer
Petra Kronen Vice Chairman-Supervisory Board
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