Shares in Covestro AG dipped early Monday, trading weaker after the company said it would post a net loss in 2022 due largely to write-downs.
At 0838 GMT, shares were down 1.9% at EUR39.60, having dropped more than 5% at the open.
The German chemicals company said it expects to report a net loss of 300 million euros ($325 million) in 2022, while the market consensus had expected EUR420 million in profit.
Covestro’s net loss was particularly due to depreciation of non-current assets of about EUR470 million and by adjustments of deferred tax assets in the amount of approximately EUR250 million, it said.
Covestro will publish its 2022 figures on March 2.