Covestro Adjusts 2020 Fiscal Year Financial Guidance Due to Effects of Coronavirus Pandemic
As a consequence of the coronavirus pandemic and the increasingly adverse business environment, Covestro has concluded that its previously provided outlook cannot be upheld.
Covestro recently announced that it has been actively executing its crisis management plans in response to the global spread of the COVID-19 pandemic and adjusting business operations according to local developments. The board of management has taken actions to: adapt the company to the current conditions, protect the health of all Covestro employees, ensure the ability to deliver to customers, and secure its strong liquidity position.
As a consequence of the coronavirus pandemic and the increasingly adverse business environment, the company has concluded that its previously provided outlook cannot be upheld. The board of management therefore provided the following adjustments to the group financial guidance for 2020: