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Covestro AG (CVVTF) CEO Markus Steilemann on Q1 2022 Results - Earnings Call Transcript

May 03, 2022 1:07 PM ETCovestro AG (CVVTF), COVTY
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Covestro AG (OTCPK:CVVTF) Q1 2022 Earnings Conference Call May 3, 2022 9:30 AM ET

Corporate Participants

Ronald Köhler - Head of Investor Relations

Markus Steilemann - Chief Executive Officer

Thomas Toepfer - Chief Financial Officer

Conference Call Participants

Christian Faitz - Kepler Cheuvreux

Geoff Haire - UBS

Charlie Webb - Morgan Stanley

Matthew Yates - Bank of America

Jaideep Pandya - On Field Research

Chetan Udeshi - JPMorgan

Georgina Fraser - Goldman Sachs

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Covestro Earnings Call on the First Quarter of 2022. The company is represented by Markus Steilemann, CEO; Thomas Toepfer, CFO; and Ronald Köhler, Investor Relations. During the presentation, all participants will be in a listen-only mode. The presentation will be followed by a question-and-answer session. [Operator Instructions].

I would now like to turn over the conference to Ronald Köhler. Please go ahead, sir.

Ronald Köhler

Good afternoon and thank you for joining our first quarter earnings call. The quarter report and the earnings call presentation is available on our IR website. And I assume, you have read our Safe Harbor statement and with that I turn the mic over to Markus.

Markus Steilemann

Thanks a lot, Ronald and hello and a warm welcome also from my side to the results of our first quarter. Actually the first quarter was the war in the Ukraine. When we spoke last time on March 1, all of us where under the shock of the Russian invasion the week before. What has happened in Ukraine since then filled us with deep sadness. All of us keep the people in Ukraine in our thoughts and we hope for a soon ending of the war.

For the global economy this means another increase of the inherent uncertainties of the economic development. However, despite

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