Covestro’s Q3 figures were slightly above our expectations and have beaten consensus, helping the share price to recover. This is the good news. A deeper insight makes us more confident that the business is becoming more challenging and a look into the cash flow leads us to conclude the company is preparing for more difficult times. The share buy-back amounted to €974m ytd (plus €440m for dividends), which looks quite uninspired.
25 Oct 2018
First signs of change
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First signs of change
Covestro AG (1COV:WBO) | 0 0 1.2% | Mkt Cap: 18,257m
- Published:
25 Oct 2018 -
Author:
Martin Schnee -
Pages:
3
Covestro’s Q3 figures were slightly above our expectations and have beaten consensus, helping the share price to recover. This is the good news. A deeper insight makes us more confident that the business is becoming more challenging and a look into the cash flow leads us to conclude the company is preparing for more difficult times. The share buy-back amounted to €974m ytd (plus €440m for dividends), which looks quite uninspired.