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    1COV   DE0006062144

COVESTRO AG

(1COV)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 09/23 08:51:50 am
55.45 EUR   +0.20%
07:44aCovestro AG english
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Covestro : aims to increase acceptance of coating resins from plants

07/27/2021 | 08:50am EDT

Covestro today introduces a new market-driven, user-oriented approach to drive the adoption of biobased solutions within the paints and coatings industries, by resins that base up to 52 percent of their carbon content on plant material. Leveraging data-driven end-user and customer insights and its market leadership in biobased raw materials, Covestro will actively engage peers and partners in sustainability dialogs and apply the unique Decovery® resin technology recently acquired from DSM. In this way, Covestro will create awareness of the technologies available and open new horizons for innovation and sustainability in paint and coating solutions.

With the environmental impact of fossil-based products becoming increasingly clear, recent years have seen an unprecedented demand for sustainable products and brands. Across the global paints and coatings industry, regulatory bodies are setting higher and higher sustainability and transparency standards, while consumers are increasingly applying their spending power to choosing eco-friendly solutions. For example, a recent European Painter Insight Monitor¹ report found that environmentally friendly paints are now the number-one desired innovation among painters, with 36 percent of France's professional painters selecting this as a desired innovation/ranking this as their most desired innovation.

Market insights from artificial intelligence and Big Data

To address these changes in the market landscape and help shape more sustainable high-performance paints and coatings industries, Covestro is launching a new plant-powered approach marked by transparency, dialogue and collaboration - called 'Paint with Nature'. Leveraging its proprietary market insights gained through artificial intelligence and big data, Covestro will work closely with partners across the value chain to provide education and support on biobased raw materials. Additionally, it will implement a 'Sign the Sustainability Pledge' initiative.

Through these initiatives and its Decovery® family of resins, whose biobased content is verified to C14 standards, Covestro will drive awareness of biobased solutions as an alternative to fossil-based products and accelerate their adoption across the paints and coatings industries.

Tim Gratzke, Marketing Manager Decovery®: 'At Covestro, we are very excited and proud to be launching a new approach to further drive plant-based resins for paints and coatings, and better connect the needs of end-users and manufacturers to environmentally friendly technologies. Using our market leadership in biobased solutions, we'll be able to provide education and support to accelerate our customers' sustainability journeys. This will help them to better address market needs, as well as protect the environment.'

No compromise on performance

He continues, 'More than ever, the transition from fossil-based paints and coatings to biobased ones is within reach and involves no compromise on functional performance. And we're committed to continuing to push the boundaries on sustainability - as such, a new, exciting plant-powered paints and coatings age awaits!'

To learn more about Decovery® paints and coatings, and Covestro's new approach, please visit the dedicated landing page here: Paint with Nature

¹ https://www.usp-mc.nl/files/painter-insight-monitor-2020-report-impression.pdf

Disclaimer

Covestro AG published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 12:49:08 UTC.


ę Publicnow 2021
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Financials
Sales 2021 14 132 M 16 565 M 16 565 M
Net income 2021 1 422 M 1 667 M 1 667 M
Net Debt 2021 1 016 M 1 191 M 1 191 M
P/E ratio 2021 7,56x
Yield 2021 4,80%
Capitalization 10 690 M 12 548 M 12 530 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
Sector and Competitors
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