LANXESS Reports Strong Quarter/Lifts Earnings Forecast
LEVERKUSEN, Germany –
LANXESS achieved a strong set of results in the third quarter of 2010 due to
strong demand for its synthetic rubber and high-tech plastics. As a result, the
specialty chemicals group has lifted, for the second time this year, its
earnings forecast for 2010. It now expects EBITDA pre exceptionals of roughly
EUR 900 million for the full year after previously forecasting roughly EUR 800
million in August.
“We are heading for a strong performance in 2010, which clearly reflects our successful strategy of focusing on premium products and the emerging markets,” said Axel C. Heitmann, Chairman of the Board of Management of LANXESS AG. “Our results also indicate that we are on track to achieve our goal of approximately EUR 1.4 billion EBITDA pre exceptionals in 2015.”
LANXESS’ top-ten sales products in the third quarter were from the company’s synthetic rubber and high-tech plastics activities, which mainly serve the tire and automotive industries.
Group sales increased 35 percent year-on-year to EUR 1.85 billion due to higher volumes in key customer industries, positive currency effects and above all price increases, which fully offset higher raw material costs. The company posted a net income of EUR 118 million in the third quarter in comparison to EUR 23 million a year earlier.
Latin America recorded the strongest year-on-year growth in the third quarter, with sales rising 86 percent year-on-year to EUR 271 million.
Sales in Asia-Pacific rose 21 percent year-on-year to EUR 408 million and represented 22 percent of group sales. All segments increased sales year-on-year.
The EMEA (Europe, Middle East, Africa, excluding Germany) region increased top-line growth by 24 percent to EUR 503 million driven by the Performance Polymers and Performance Chemicals segments.
Sales in Germany rose 22 percent to EUR 340 million in the third quarter, representing 18 percent of group sales.
In North America, sales grew by 60 percent to EUR 325 million and represented 18 percent of group sales.
The BRIC countries (Brazil, Russia, India, and China) represented 23 percent of group sales in the third quarter, in comparison to 22 percent and 20 percent in the corresponding quarters in 2009 and 2008.
Sales of the Performance Polymers segment rose 50 percent year-on-year to EUR 986 million in the third quarter, driven by price increases and strong demand notably in Latin America.
Third-quarter sales in the Advanced Intermediates segment rose 18 percent year-on-year to EUR 336 million.
Sales of the Performance Chemicals segment rose 21 percent year-on-year to EUR 515 million in the third quarter, with all seven business units showing sales improvements.
“We are heading for a strong performance in 2010, which clearly reflects our successful strategy of focusing on premium products and the emerging markets,” said Axel C. Heitmann, Chairman of the Board of Management of LANXESS AG. “Our results also indicate that we are on track to achieve our goal of approximately EUR 1.4 billion EBITDA pre exceptionals in 2015.”
LANXESS’ top-ten sales products in the third quarter were from the company’s synthetic rubber and high-tech plastics activities, which mainly serve the tire and automotive industries.
Group sales increased 35 percent year-on-year to EUR 1.85 billion due to higher volumes in key customer industries, positive currency effects and above all price increases, which fully offset higher raw material costs. The company posted a net income of EUR 118 million in the third quarter in comparison to EUR 23 million a year earlier.
Latin America recorded the strongest year-on-year growth in the third quarter, with sales rising 86 percent year-on-year to EUR 271 million.
Sales in Asia-Pacific rose 21 percent year-on-year to EUR 408 million and represented 22 percent of group sales. All segments increased sales year-on-year.
The EMEA (Europe, Middle East, Africa, excluding Germany) region increased top-line growth by 24 percent to EUR 503 million driven by the Performance Polymers and Performance Chemicals segments.
Sales in Germany rose 22 percent to EUR 340 million in the third quarter, representing 18 percent of group sales.
In North America, sales grew by 60 percent to EUR 325 million and represented 18 percent of group sales.
The BRIC countries (Brazil, Russia, India, and China) represented 23 percent of group sales in the third quarter, in comparison to 22 percent and 20 percent in the corresponding quarters in 2009 and 2008.
Sales of the Performance Polymers segment rose 50 percent year-on-year to EUR 986 million in the third quarter, driven by price increases and strong demand notably in Latin America.
Third-quarter sales in the Advanced Intermediates segment rose 18 percent year-on-year to EUR 336 million.
Sales of the Performance Chemicals segment rose 21 percent year-on-year to EUR 515 million in the third quarter, with all seven business units showing sales improvements.
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