Lanxess increases earnings forecast for 2016
Specialty chemicals company Lanxess raises its earnings forecast for 2016. The company now expects EBITDA pre exceptionals within a range of 930 million euros and 970 million euros mainly due to good business prospects in the “new” Lanxess segments for the second half of the year. Previously, Lanxess had assumed earnings of between 900 million euros and 950 million euros.
In a strong second quarter of 2016, EBITDA pre exceptionals rose by 8.5 % to 293 million euros, compared with 270 million euros a year earlier. The EBITDA margin pre exceptionals improved year-on-year from 12.8 % to 15.1 %. The good overall performance was due particularly to the strong development of the “new” Lanxess segments Advanced Intermediates, Performance Chemicals and High Performance Materials.
“The strong operating result derived especially from increased volumes, leaner cost structures and an improved product mix achieved by the “new” Lanxess segments. This shows that our realignment has enabled us to create a powerful and efficient organization and that we are operating in the right markets with the right products,” said Lanxess Chairman of the Board of Management Matthias Zachert. “We are very optimistic for the second half of the year and expect “new” Lanxess to improve earnings against the prior year. Although the rubber business remains difficult, we are again raising our forecast for the full year.”
CONTACT
Lanxess Deutschland GmbH
Kennedyplatz 1
50569 Cologne/Germany
+49 221 8885-0
