Covestro (1COV) AGM 2025 summary

Opening remarks and agenda

• AGM opened with reflections on global volatility, economic uncertainty, and the importance of adaptability.

• The meeting was held virtually, with all formalities and technical arrangements explained in detail.

• No requests for agenda additions or counter motions were received; all required documents were made available in advance.

Financial performance review

• Despite challenging conditions, full-year targets for 2024 were met, with a 7.4% increase in volume sold.

• Sales remained slightly below the previous year due to low prices; EBITDA was stable at €1.1 billion.

• Net income was negative at €-266 million, resulting in no dividend for 2024.

• Free operating cash flow was positive at €89 million, with strong Q4 performance.

• Performance materials segment saw 12% revenue growth from higher volumes, but margins were pressured by low prices.

• Solutions and specialty segment increased volumes by 4%, but sales declined due to lower prices.

Board and executive committee updates

• Monique Buch appointed as new Chief Commercial Officer, succeeding Sucheta Govil in August 2025.

• Several changes in the Supervisory Board, with new members appointed and retirements noted.

• Supervisory Board supported the strategic direction and internal optimization efforts.