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Lanxess Narrows 2013 Outlook
Posted: November 15, 2013
Chemicals Group Lanxess narrowed its outlook for the full year 2013, as prices fell in the third quarter particularly in the rubber businesses belonging to its performance polymers segmeant. Negative currency effects also hurt results.
For 2013, earnings before interest, taxes, depreciation and amortization (EBITDA), pre-exceptional items, is expected to be between €710 million and €760 million, within the previously release range of €700 million to €800 million.
In the third quarter of 2013, the company posted a 9% volume increase year-on-year, with all segments contributing. However, this increase did not entirely offset the 11% overall price decline. Group sales fell by 5% overall from the prior-year quarter to €2.1 billion.