Germany based chemicals company Lanxess sales up 10 %, expects same in FY19

Germany based specialty chemicals company, Lanxess sales grew by 10.2 per cent year-on-year to Eur 7.197 billion to make a solid start to the new fiscal year. The company has forecast EBITDA pre exceptionals to be around the prior-year level in FY 19.

Lanxess closed its fiscal year with a strong result. In 2018, EBITDA pre exceptionals increased by 9.8 per cent to Eur 1.016 billion. As forecast, earnings are at the upper end of the range of 5 to 10 per cent above the previous year’s figure of Eur 925 million (without Arlanxeo, the synthetic rubber venture of Lanxess). Net income increased significantly to Eur 431 million.

The successful fiscal year 2018 is also expected to pay off for Lanxess shareholders. The board of management and supervisory board will propose a dividend of Eur 0.90 per share to the Annual Stockholders’ Meeting on 23 May 2019. This would be 12.5 per cent more than in the previous year.

Lanxess AG’s chairman of the board of management, Matthias Zachert, said, “Despite the rising economic headwind, we delivered on our promises. We made very good progress strategically and operationally: Lanxess now has a very clear focus on specialty chemicals. Today, we are more profitable, more stable and more competitive than ever and that is paying off.”

NT Bureau