#Textile chemistry

2021-07-15

Raised earnings outlook for 2021

Covestro is raising its forecast for EBITDA, free operating cash flow (FOCF) and return on capital employed (ROCE) for fiscal year 2021 as a result of a further improved business outlook for the second half-year. The new expectation exceeds the previously provided forecast as well as current capital market expectations.

The outlook factors in – unchanged – the acquisition of the Resins & Functional Materials (RFM) business of Koninklijke DSM N.V., Heerlen (Netherlands), which was closed on April 1, 2021.

Capital market expectations are based on the average values of the latest consensus estimates of financial analysts, published by Vara Research on July 7, 2021.

Covestro adjusts its forecast for fiscal year 2021 as follows:

EBITDA is expected to be between EUR 2,700 million and EUR 3,100 million. The previous forecast projected EBITDA between EUR 2,200 million and EUR 2,700 million. The adjustment of the forecast mainly results from a further improved margin outlook for the second half of the year. The consensus expects this figure to be EUR 2,611 million.

Core volume growth is expected – unchanged – to be between 10% and 15%, of which around 6 percentage points are attributable to the acquisition of the Resins & Functional Materials (RFM) business.

Free operating cash flow (FOCF) is expected to be between EUR 1,600 million and EUR 2,000 million. The previous forecast projected FOCF between EUR 1,300 million and EUR 1,800 million. The adjustment of the forecast mainly results from the increased forecast for EBITDA while the development of working capital has a negative effect. The consensus expects this figure to be EUR 1,362 million.

Return on capital employed (ROCE) is expected to be between 16% and 20%. The previous forecast projected ROCE between 12% and 17%. The adjustment of the forecast mainly results from the increased forecast for EBITDA.

The increased EBITDA forecast is based on a preliminary EBITDA for Q2 2021 of around EUR 815 million, that meets the current forecast of between EUR 730 million and EUR 870 million. The consensus expects this figure to be EUR 828 million.

The half-year financial report 2021 will be published on August 6, 2021.

Covestro and Heraeus Precious Metals collaborate to enable safer, more sustainable antimicrobial textile coatings

Laboratory tests reveal that AGXX antimicrobial surface technology from Heraeus Precious Metals is fully compatible with Impranil® PU dispersions which are part of the waterborne INSQIN® textile coating technology from Covestro, paving the way for more sustainable antimicrobial textile coatings. This discovery comes at a key moment for the textile coatings industry. As the sharing economy continues to grow, more people are coming into regular contact with high-use surfaces, creating ideal conditions for bacteria, viruses, and other microorganisms to thrive.

Covestro celebrates decade of innovation and sustainable growth

Covestro celebrates its 10-year anniversary today. Since its carve-out from Bayer in 2015, the company has developed into a global leader in high-performance polymer materials and a pioneer in circular economy solutions. With a strong focus on innovation and sustainability, Covestro’s materials are now embedded in countless applications worldwide – from mobility and construction to electronics, healthcare, and consumer goods.

Suiting up Team Sonnenwagen with more sustainable sportswear created through a three-way partnership

Team Sonnenwagen Aachen, a solar racing collective from RWTH Aachen and FH Aachen, Germany, is on a mission to advance sustainable mobility solutions and become world champions. This August, the student team will participate in the 2025 Bridgestone World Solar Challenge, a biannual 3,000-kilometer race across the Australian outback. During the five-day event, 50 student teams from around the world will compete with solar vehicles that they must design, assemble, and drive themselves.

TEXTILCOLOR AG launches strategic collaboration with Alpex, Majocchi, and Trans-Textil in the field of Pyroshell™ flame protection

TEXTILCOLOR AG, a leading provider of innovative solutions in textile chemistry, today announces the start of a strategic collaboration with Alpex Protection, Majocchi, and Trans-Textil. Starting November 1, 2025, the partners will jointly advance the flame-retardant finishing of textiles using the patented Pyroshell™ technology at production sites in Germany, France, and Italy.

Huntsman and Steitz Secura deliver breakthrough in sustainable safety footwear

Huntsman, in collaboration with Steitz Secura, has developed a breakthrough polyurethane (PU) solution that can help improve the circularity of safety footwear. Together, the two companies have created a DALTOPED® polyurethane midsole system that can incorporate recycled content without compromising performance – setting a new benchmark in protective footwear production.

Zschimmer & Schwarz at ITMA Asia in Singapore

At ITMA Asia in October 2025, Zschimmer & Schwarz will present 100 % bio-based spin finishes from the LERTISAN range designed for hygiene nonwovens, and HYDROSET ECO-DRY, a bio-based wicking agent that delivers excellent moisture management for synthetic fabrics. For dye fixation on polyamide, the company has developed a sustainable, plant-based product completely free from phenol, bisphenol, and formaldehyde. The patented aftertreatment agent ZETESAL ECO-FIX PA ensures durable and reliable fixation, particularly on dark shades.

RE&UP debuts at Ecomondo 2025 to showcase circular fashion innovation

RE&UP makes its first appearance at Ecomondo – The Green Technology Expo, Europe’s leading event for ecological transition and circular economy. Specializing in textile-to-textile recycling, RE&UP transforms end-of-life fabrics into Next-Gen recycled cotton fibers and polyester chips, giving new life to materials that would otherwise go to waste.

ICAC announces postponement of the 83rd Plenary Meeting in Tanzania

Due to unforeseen circumstances arising from the recent developments in Tanzania, the ICAC has announced that its upcoming 83rd Plenary Meeting has been postponed. Scheduled for Nov. 17-20 in Mwanza, the delay was recommended by Tanzania, and the decision was made out of an abundance of caution, prioritizing the safety and well-being of all participants.

T-CAN – Revolutionizing can transport

In virtually all spinning mills, transporting sliver cans is still done manually. Rising labor costs, lack of operators and increasing quality requirements make this a growing challenge. With T-CAN, Trützschler introduces a practical solution: a fully automated can transport system that will be presented live at ITMA ASIA 2025 in Singapore.