Second quarter results buoys Lanxess’ outlook

LSRUNQI

Second quarter results buoys Lanxess’ outlook
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Friday, August 12, 2011

Leverkusen, Germany - Lanxess has lifted its expectations for 2011 after achieving record results in the second quarter. The specialty chemicals company now expects EBITDA pre exceptionals to grow about 20% year-on-year after previously forecasting a growth of 10-15%. EBITDA pre exceptionals in the second quarter rose 26% year-on-year to EUR 339 million. “Our clear focus on innovative, premium products as well as emerging regions, coupled with a strict adherence to a price-before-volume strategy, has again yielded outstanding results,” said Axel C. Heitmann, chairman of the board of management of Lanxess. “Notably, our synthetic rubber and high-tech plastics business profited from their exposure to the megatrend mobility.” Sales increased by 23% year-on-year to EUR 2.2 billion. Lanxess implemented price increases in all segments in order to fully pass on higher raw material costs. In addition, there was volume growth and positive portfolio effects from recent acquisitions, above all the EPDM rubber business DSM Elastomers. Sales grew despite negative currency effects at minus 7% mainly due to a weak U.S.-dollar. The EBITDA margin pre exceptionals rose to 15.1% in the second quarter from 14.7% a year earlier and the net profit increased 38% year-on-year to EUR 181 million. Net debt at the end of the second quarter rose 49% from the end of 2010 to about EUR 1.4 billion mainly due to the acquisitions of the EPDM rubber business and Syngenta’s material protection business. Operating cash-flow more than tripled to EUR 212 million reflecting the strength of the company’s operational business.

shiqunwang

Lanxess ,很好，顶一下~！