(Reuters) – German chemicals maker Covestro said on Wednesday it expects 2025 core profit to be similar to, or slightly above, last year results which came in a touch above expectations.
Covestro, whose main products include foam chemicals used in mattresses, car seats and insulation for buildings, estimates annual earnings before interest, tax, depreciation and amortisation (EBITDA) to be between 1 billion and 1.6 billion euros this year.
That compares with the 1.1 billion euros ($1.15 billion) it booked in 2024, which was just over an average analyst estimate of 1.06 billion euros in a company-provided poll.
Covestro’s guidance for 2025 was in line with an average analyst estimate of 1.31 billion euros.
The company said in a statement it expected economic conditions to remain challenging in 2025.
It forecast EBITDA of between 50 million euros and 150 million euros for the current quarter.
($1 = 0.9531 euros)
(Reporting by Elviira Luoma, Jesus Calero and Linda Pasquini; editing by Miranda Murray and Rachna Uppal)
