Lanxess post results for “challenging” 2013

25th March 2014 | 0 Comments

German specialty chemicals company Lanxess AG reports that its sales decreased 8.7 per cent year-on-year in 2013, to €9.1 billion, and it says this decline is primarily attributable to lower selling prices in its Performance Polymers business segment due to lower raw material prices, and to the “challenging competitive situation.” On the back of increasing production-related costs and negative currency effects, EBITDA pre-exceptionals decreased 39.9 per cent year on year to €735 million, which was within Lanxess’ guidance range of €710 million to €760 million. Lanxess says a slight increase in volumes was unable to compensate for the decline in earnings. The Group’s EBITDA margin pre exceptionals fell to 8.9 per cent from 13.4 per cent in 2012.

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