28 January 2015, 00:00
Specialty chemicals company LANXESS expects EBITDA pre exceptionals to be higher than previously anticipated for the fourth quarter and therefore for the fiscal year 2014.
Against EUR 735 million reported in fiscal 2013, EBITDA pre exceptionals for fiscal 2014 is expected to increase to around EUR 808 million.
The fourth quarter 2014 result is expected at around EUR 154 million EBITDA pre exceptionals. Basis for the improved earnings was a stronger than originally anticipated demand in December.
Matthias Zachert, Chairman of the Board of Management of LANXESS AG: “In autumn, we were witnessing restrained orders due to customer destocking in the rubber business in light of falling oil prices. Surprisingly, this development was considerably less strong in December”. Additionally, LANXESS profited from lower raw material costs in the Advanced Intermediates segment. Earnings in the Performance Chemicals segment came in at the expected level.
LANXESS will release final results for fiscal 2014 on March 19, 2015. All figures provided in this release are preliminary and unaudited.
LANXESS is a leading specialty chemicals company with sales of EUR 8.3 billion in 2013 and about 16,700 employees in 29 countries. The company is currently represented at 52 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals. LANXESS is a member of the leading sustainability indices Dow Jones Sustainability Index (DJSI World and DJSI Europe) and FTSE4Good.