Tuesday - May 3, 2016

Seven months after listing

Covestro holds first Annual Stockholders’ Meeting

Materials producer looking forward optimistically after a successful year
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Covestro welcomes its shareholders to the first Annual Stockholders’ Meeting: CEO Patrick Thomas (center), CFO Frank H. Lutz (right) and Supervisory Board Chairman Dr. Richard Pott.

On Tuesday, materials manufacturer Covestro AG welcomed its stockholders to the first Annual Stockholders’ Meeting in the company’s history, held in Cologne. The Board of Management and the Supervisory Board reviewed the success achieved following the company’s launch in 2015 and explained the strategy for long-term growth.

“Today’s premier marks another milestone in the history of our company,” said CEO Patrick Thomas. “Last year, we not only achieved our independence, introduced our colorful new brand and successfully listed Covestro on the stock market, we also achieved our business targets. Based on these accomplishments, we are confident that we can look forward to an even more successful future.”

Focus on profitable growth

Covestro is focusing on long-term profitable growth. The MDAX and STOXX Europe 600 listed company will be relying on innovative products and technologies to help address global challenges. At the same time, Covestro will systematically pursue sustainability and consistently work to improve its production and cost structures.

“We have continued our strong performance into the current fiscal year,” said Chief Financial Officer Frank H. Lutz, “and we want our stockholders to participate in this in the long term. We intend to maintain a consistent dividend payout ratio of 30 to 50 percent of net income.”

For fiscal 2015, the Covestro Board of Management and Supervisory Board proposed a dividend of EUR 0.70 per share to stockholders.

About Covestro:
With 2015 sales of EUR 12.1 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and the sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites around the globe and as of the end of the first quarter 2016 employed approximately 15,700 people (full-time equivalents).

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Forward-looking statements
This press release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available on the Covestro website at Covestro assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.