Lanxess: returns to token profit in Q3
(CercleFinance.com) - Lanxess has announced that its Q3 sales reached E1598m, virtually flat compared with Q3 the previous year (-0.
2%).
EBITDA 'pre exceptionals' came to E173m, up 45.4%, while net income stood at E1m, a lot better than the E131m loss recorded a year earlier.
Despite the difficult competitive environment in the chemical industry, we are staying the course. Our timely measures to address weak global demand are bearing fruit, Lanxess management said.
As a result, the company is maintaining its FY forecast, even though a general recovery is not yet in sight.
Lanxess expects profits to increase by 10%-20% compared with the previous year's figure of E512m.
However, the company expects a 'moderate' performance in Q4, due to the normal seasonal nature of its business.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
2%).
EBITDA 'pre exceptionals' came to E173m, up 45.4%, while net income stood at E1m, a lot better than the E131m loss recorded a year earlier.
Despite the difficult competitive environment in the chemical industry, we are staying the course. Our timely measures to address weak global demand are bearing fruit, Lanxess management said.
As a result, the company is maintaining its FY forecast, even though a general recovery is not yet in sight.
Lanxess expects profits to increase by 10%-20% compared with the previous year's figure of E512m.
However, the company expects a 'moderate' performance in Q4, due to the normal seasonal nature of its business.
Copyright (c) 2024 CercleFinance.com. All rights reserved.