Covestro (1COV) AGM 2025 summary

Opening remarks and agenda

• AGM opened with reflections on global volatility, trade conflicts, and economic uncertainty, emphasizing the importance of adaptability and solution focus.

• The meeting was held virtually, with all formalities, agenda, and technical arrangements detailed and compliant with legal requirements.

• 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 but sales slightly below the previous year due to low prices.

• EBITDA remained stable at EUR 1.1 billion, but net income was negative at EUR -266 million, resulting in no dividend for 2024.

• Free operating cash flow was positive at EUR 89 million, with strong Q4 performance; ROCE over WACC was -7.4 percentage points.

• Performance materials saw a 12% revenue increase from higher volumes, while solutions and specialty segment volumes rose 4% but sales declined due to lower prices.

Board and executive committee updates

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

• Several changes occurred in the Supervisory Board, with new members joining and others retiring.

• The Supervisory Board held five regular meetings, focusing on economic challenges and the XRG transaction.