Lanxess reports strong Q1, expects best year on record
Lanxess has announced it is projecting the highest full-year results in company history, following a strong Q1 2017 and the completed acquisition of US-based Chemtura. Global sales of the specialty chemicals company increased by 25% to €2.4 billion ($2.6 billion) in Q1 2017, up from €1.9 billion a year earlier.
EBITDA pre-exceptional improved by 25% to €328 million ($367 million), compared with €262 million in Q1 2016. The EBITDA margin reached 13.7%, slightly above the 2016 figure of 13.6%. Significant volume increases across all segments drove the German company’s strong first-quarter results. Net income rose significantly by 47% to €78 million ($87.2), against €53 million in the year-earlier quarter. For the full-year 2017, the company expects EBITDA pre-exceptional of between €1.2 billion and €1.3 billion.
The forecast includes the earnings contribution from the newly acquired Chemtura businesses. Based on these figures, Lanxess says 2017 could be the most successful fiscal year in the company’s history. The chemical maker achieved its highest operating result to date in 2012, when it posted a figure of around €1.2 billion.