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    1COV   DE0006062144

COVESTRO AG

(1COV)
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Delayed Quote. Delayed Xetra - 01/27 11:35:18 am
54.74 EUR   +2.05%
01/26COVESTRO : Jefferies reiterates its Neutral rating
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01/26COVESTRO : JP Morgan sticks Neutral
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01/25COVESTRO : supports circular material solutions for smartphones
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Covestro : EVBox Group to use polycarbonate from Covestro from mass-balanced biowaste

11/30/2021 | 04:11am EST

The expansion of electromobility is progressing, and the need for charging stations is growing accordingly. The European Green Deal fixes a target of one million public charging points to be available by 2025. They will be needed to power the 13 million electric cars then expected on European roads.

Covestrois driving the transition to electromobility with innovative material solutions and has been cooperating for more than ten years with EVBox Group, a leading Dutch full-service provider for electric car charging. By using Makrolon® RE, the ISCC PLUS-certified mass-balanced polycarbonate, both companies aim to achieve an even more sustainable solution.

The objective is to set a new standard for charging infrastructure: while electric vehicles no longer require fossil fuels for power, both partners are now looking to conserve resources for charging stations as well and equip them with more sustainable materials. Joint developments are just beginning, but ISCC PLUS-certified Makrolon® RE has already cleared one important hurdle: it meets the technical requirements of charging station manufacturers.

Keeping an eye on the life cycle

"It is important to us to think about the entire life cycle of charging stations right from their development and design," explains Wijnand Diemer, Senior Director, Product Management at EVBox Group. "These include circular materials as source materials, a modular design that facilitates repairs, and last but not least, the remanufacturing of components and entire charging stations. We are pleased to have Covestro as a competent and trustworthy partner for this."

A partner that will soon support EVBox with even more sustainable materials. Makrolon® RE series plastics come from recycled waste and residues. Like the standard products, they are recyclable, and also durable. Some products are even carbon-neutral from cradle to factory gate, thanks to the introduction of raw materials derived from mass-balanced biowaste and residues, and renewable energy into the production process. This should significantly reduce their carbon footprint compared with standard types.

Dr. Niklas Meine from Marketing Electrical & Electronics in the Engineering Plastics segment, EMEA, at Covestro, adds: "In order to meet the technical requirements, special material properties are essential. These include impact resistance, color fastness, and surface quality as characteristic features that polycarbonates have to meet in very different climatic regions, including outdoors. The key factor here is durability. Our Makrolon® RE series offers outstanding technical properties based on alternative raw materials, thus allowing for significant CO2 emission savings as early as in the production of charging stations."

Disclaimer

Covestro AG published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 09:10:07 UTC.


© Publicnow 2021
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Financials
Sales 2021 15 432 M 17 210 M 17 210 M
Net income 2021 1 633 M 1 821 M 1 821 M
Net Debt 2021 1 183 M 1 320 M 1 320 M
P/E ratio 2021 6,50x
Yield 2021 6,49%
Capitalization 10 567 M 11 785 M 11 785 M
EV / Sales 2021 0,76x
EV / Sales 2022 0,74x
Nbr of Employees 17 883
Free-Float 97,0%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 54,74 €
Average target price 66,41 €
Spread / Average Target 21,3%
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Managers and Directors
Markus Steilemann Chief Executive Officer
Thomas Toepfer Chief Financial Officer & Labor Director
Richard Pott Chairman-Supervisory Board
Klaus Schäfer Chief Technology Officer
Petra Kronen Vice Chairman-Supervisory Board
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