ICIS Company of the Year 2017 – Covestro

ICIS has awarded its Company of the Year accolade to Germany-headquartered polycarbonate and polyurethanes maker Covestro, based on its exceptional financial performance in 2016. In its first year of operation after splitting from parent Bayer, the former Bayer MaterialScience business produced exceptional levels of profitabilty with 2016 operating profit – adjusted earnings before interest and tax (EBIT) – growing by 41%. The gains made in profits and returns ensured that it topped the detailed ICIS analysis of financial metrics collected for the ICIS Top 100 listing of the world’s largest chemical companies, also published in September 2017. The company is now in a strong position for future growth led by chairman and CEO, Patrick Thomas, who will be replaced by chief commercial officer Markus Steilemann when Thomas retires at the end of September 2018.

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