Core Insights - Covestro reported Q3 2025 results with sales of €3.2 billion, down from €3.6 billion year-on-year, and an EBITDA of €242 million, down from €287 million year-on-year, indicating a challenging market environment [2] - The company faced a net loss of €47 million compared to a profit of €33 million in the same period last year, primarily due to weak demand, oversupply, and production disruptions caused by fires [2] - The STRONG transformation plan initiated in 2024 is expected to yield cumulative cost savings of approximately €320 million by the end of 2025, contributing to a target of €400 million annual savings by 2028 [2] Business Performance - Functional Materials segment reported sales of €1.5 billion, down from €1.8 billion year-on-year, with an EBITDA of €174 million, up from €125 million year-on-year [2] - Solutions and Specialties segment had sales of €1.6 billion, down from €1.8 billion year-on-year, with an EBITDA of €196 million, down from €208 million year-on-year [3] New Business Developments - Covestro completed the acquisition of Pontacol AG, expanding its film business into specialized cast and blown film sectors, targeting opportunities in medical technology, transportation, and textiles [4] - The company signed an agreement to acquire two HDI derivative production facilities in Thailand and the USA, enhancing its aliphatic isocyanate production and supporting long-term growth in the coatings and adhesives division [4] - Covestro narrowed its full-year performance forecast, now expecting EBITDA between €700 million and €800 million, with free operating cash flow projected between -€400 million and -€200 million [4]