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LANXESS Q1 sales up 43.7 per cent to EUR 2.432 billion

May 11, 2022 23:31 IST | ANI Press Release
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LANXESS Q1 sales up 43.7 per cent to EUR 2.432 billion

Mumbai (Maharashtra) [India], May 11 (ANI/PNN): Specialty Chemicals company LANXESS made a strong start to the year 2022. In the first quarter of 2022, EBITDA pre exceptionals increased considerably and amounted to EUR 320 million, 32.2 per cent higher than the previous year's figure of EUR 242 million. All the company's segments contributed to the growth, with the Specialty Additives segment performing particularly well. LANXESS passed on the significantly increased raw material and energy costs via higher selling prices. The successful acquisitions, especially that of Emerald Kalama Chemical, likewise made a positive earnings contribution. The EBITDA margin pre exceptionals came to 13.2 per cent, against 14.3 per cent a year ago.

Group sales amounted to EUR 2.432 billion in the first quarter, up 43.7 per cent on the previous year's figure of EUR 1.693 billion. Net income reached EUR 98 million, after net income from continuing operations of EUR 63 million in the previous year.

LANXESS is also confident going into the second quarter, in which the Group expects EBITDA pre exceptionals of between EUR 280 million and EUR 350 million. In the prior-year quarter, the company had generated EUR 277 million. For the full year, LANXESS still expects EBITDA pre exceptionals to be significantly higher than in the previous year. However, the guidance does not take into account potential further impacts of the war in Ukraine and the contribution of the acquisition of IFF's Microbial Control business. The transaction is expected to close in the third quarter.

"With our focus on speciality chemicals, we have built up strong market positions in recent years, which are particularly paying off in the current situation. We can thus pass on higher raw material and energy costs via our selling prices. However, it is impossible to predict the impact of the war in Ukraine on future business performance. We are therefore monitoring the further developments very closely," said Matthias Zachert, Chairman of the Board of Management of LANXESS AG.

This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)

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