LANXESS Narrows Full-Year Guidance Range in a Challenging Market Environment
COLOGNE, Germany – In an economic environment marked by continuing uncertainty, specialty chemicals Group LANXESS has narrowed its guidance range for the full-year 2013. EBITDA pre-exceptionals is expected to be between €710 million and €760 million, within the previously communicated corridor of €700 million to €800 million.
In the third quarter of 2013, the company posted a 9 percent volume increase year-on-year, with all segments contributing. However, this increase did not entirely offset the 11 percent overall price decline. Prices fell particularly in the rubber businesses belonging to the Performance Polymers segment. Negative currency effects, mainly related to the weakness of the U.S. dollar, also had an impact. Group sales fell by 5 percent overall compared with the prior-year quarter to €2.1 billion.