Speciality chemicals company Lanxess has reported a ‘successful fiscal 2015, despite a challenging market environment’.
EBITDA pre exceptionals rose by 9.5% to €885 million, due to savings achieved by the company’s realignment program, the strong US dollar and volume growth. The operating result was therefore within the recent guidance range of €860 million to €900 million. In 2014, the operating result was €808 million. Net income increased substantially to €165 million from €47 million, while compared with the prior year, sales remained virtually stable at €7.9 billion (2014: €8.0 billion). Lower selling prices resulting from lower raw material prices were largely compensated by favorable currency effects, the company says. ‘Fiscal 2015 was successful for Lanxess in every respect,’ said Matthias Zachert, chairman of the board of management of Lanxess AG. ‘We implemented our realignment faster than planned and, at the same time, significantly improved our profit situation and financial position. We have thus laid a stable foundation for our growth course,’
Positive development In 2015, sales in the Performance Polymers segment declined by 4.5% compared with the prior year, to around €3.9 billion, while in the Advanced Intermediates segment, 2015 sales were slightly down on the prior year at around €1.8 billion. Sales in the Performance Chemicals segment improved by 4.8% in 2015 to around €2.1 billion. Lanxess is forecasting EBITDA pre exceptionals between €240 million and €260 million for the first quarter of 2016. The company is expecting stable to slightly positive business development for the Advanced Intermediates and Performance Chemicals segments for the full year 2016. It also assumes good volume growth in the High Performance Materials segment.
This story uses material from Lanxess, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.