Materials manufacturer Covestro has announced that sales for 2015 increased by 2.7 percent to 12.1 billion euros, despite declining selling prices.
The company also posted a healthy rise in earnings before interest tax depreciation and amortization (Ebitda) in its first financial year as a standalone company.
Formerly part of chemicals giant Bayer AG and known as Bayer MaterialScience, Covestro saw its Ebitda rise 41.3 percent to 1.64 billion euros year-on-year.
The numbers were flattered somewhat by a leap in profits in the polycarbonates business in the final quarter.
Covestro chief executive Patrick Thomas, said: “As eventful as 2015 was, it was also a major economic success for our company.
“We demonstrated earnings power and financial strength while achieving independence.”
Sales in the firm's coatings, adhesives and specialties division grew by 8.6 percent to a record 2.09 billion euros.