Covestro recently announced it has been named the ICIS Company of the Year, reportedly based on its 2016 business and financial metrics. The accolade is awarded by ICIS Chemical Business.
The Company of the Year analysis is reportedly based on year-on-year growth in sales, profits and margins for leading global chemical producers. In addition, it reportedly takes into account the absolute level of returns at the operating and at the net level relative to sales and total assets.
“We congratulate Covestro for a stellar financial performance in its first full year as a public company in 2016, where adjusted earnings before interest and tax (EBITDA) rose 41.9% year-on-year, and the stock price more than doubled even amid concerns about potential overcapacity in polyurethane intermediates,” said Joseph Chang, global editor of ICIS Chemical Business.
“It goes without saying we are honored to be awarded Company of the Year by ICIS, which is at the same time a huge compliment to all Covestro employees worldwide,” says Patrick Thomas, CEO.
For more information, visit www.covestro.com.