Lanxess, which is a major global leather chemical producer, says EBITDA pre exceptionals improved significantly to €375 million (+14%), compared with €328 million in the prior-year quarter, while net income rose +23% to €96 million (Q1 2017: €78 million). However, in the Performance Chemicals segment, which includes leather chemicals, sales dropped -8.7 % to €336 million in the first quarter. EBITDA pre exceptionals amounted to €52 million, down -11.9%, and EBITDA margin pre exceptionals amounted to 15.5%, against 16% in the same period of the previous year.

The Group says it has raised its guidance for fiscal 2018, and now expects EBITDA pre exceptionals to increase between 5-10% for the “New Lanxess” segments; Advanced Intermediates, Specialty Additives, Performance Chemicals and Engineering Materials.

“Lanxess remains firmly on track. We have made a dynamic start to the new fiscal year and improved our profitability again. This shows that our efforts to move the company forwards are increasingly paying off,” said Matthias Zachert, Chairman, Lanxess Board of Management.