LANXESS Reports Decline in Sales for First Quarter
LEVERKUSEN, Germany – LANXESS posted lower earnings in the first quarter of 2013 due to a weak market environment, particularly in the tire and automotive industries.
First-quarter sales were down by 12 percent year-on-year to EUR 2.1 billion, mainly due to lower volumes and fallen selling prices. EBITDA pre exceptionals dropped by 53 percent against the prior-year period to EUR 174 million, falling within the company’s target of between EUR 160 million and EUR 180 million. The operating result was lowered by one-time effects of about EUR 30 million for the start-up of the new butyl rubber plant in Singapore and the conversion to Keltan ACE technology at the EPDM rubber plant in Geleen, the Netherlands.