Following a strong first quarter of 2017 and the successful acquisition of US-based Chemtura, Lanxess is bullish on 2017.
22 Jun 2017 | 3111 Views | By Autocar Pro News Desk
German speciality chemicals maker, which recorded its best quarter results for January-March 2017 with net income of 78 million euros (+47%), is optimistic about notching its best-ever results in 2017.
The company saw its global sales increase by 25 percent to 2.4 billion euros in Q1 FY2017 compared to ...
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German speciality chemicals maker, which recorded its best quarter results for January-March 2017 with net income of 78 million euros (+47%), is optimistic about notching its best-ever results in 2017.
The company saw its global sales increase by 25 percent to 2.4 billion euros in Q1 FY2017 compared to 1.9 billion euros for the same period last year. EBITDA pre-exceptional also improved by 25 percent to 328 million euros during Q1 FY2017 compared to 262 million euros for the same period last year.
Following a strong first quarter of 2017 and the successful acquisition of US-based Chemtura, Lanxess is bullish on 2017. For the full year 2017, the company expects EBITDA pre exceptionals of between 1.225 billion and 1.3 billion euros. This forecast includes the earnings contribution from the newly acquired Chemtura businesses. Lanxess achieved its highest operating result to date in 2012, when it posted a figure of around 1.2 billion euros.
Lanxess saw a strong start to the 2017 fiscal year. “We recorded an increase in demand in all of our business segments and generated higher sales in all regions. This clearly shows that we have the right positioning,” said Matthias Zachert, chairman, board of management , Lanxess. “Good order flow and a dynamic business environment appear to continue in the second quarter – for the full year, we are even expecting record earnings. This is a clear indication of our operational strength, which will be further enhanced by the Chemtura acquisition. Our job now is to ensure the swift and smooth integration of the new businesses,” added Zachert.