Lanxess forecasts record year

Worldwide
Published:  17 November, 2017

The specialty chemicals manufacturer says it is on course for the highest earnings in its history following an excellent third quarter of 2017, and has announced that it has made considerable headway in reducing climate gas emissions (CO2e).

Global sales for Lanxess increased 25.1% (€483 million) to €2.4 billion against €1.9 billion in the prior year. Ebitda pre-exceptionals are reported to have improved 35% to €347 million, compared with €257 million in the prior-year third quarter. Net income pre-exceptionals grew €29 million to €106 million.

In the third quarter of 2017, sales in the Performance Chemicals segment rose 11% to €364 million, against €328 million a year earlier. Ebitda pre-exceptionals advanced €9 million (16.1%) to €65 million, compared with the prior-year level of €56 million. All business units are reported to have increased their sales volumes.

After the strong figures of the third quarter, the manufacturer says it is refining its earnings forecast for 2017 and lifting the lower end of the range by €25 million. Lanxess now expects EBITDA pre-exceptionals of between €1.25 billion and €1.3 billion, representing a record for the Cologne based company, as its highest operating result to date is the roughly €1.2 billion achieved in 2012.

The specialty chemicals manufacturer also announced that it has cut worldwide climate gas emissions (CO2e) by 13.8 million metric tonnes over 10 years, and specific CO2e were reduced by 53%. “Lanxess has spared the environment 13,800,000 metric tonnes of gas emissions over the last decade, which is equivalent to the level of CO2 emitted by all cars registered in Cologne and Bonn (approximately 600,000) within the same period”, says a statement. The Company targets a further 25% reduction by 2025, by conducting routine reviews of production facilities and continuing to use innovative technologies.