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Monday, 16 September 2019
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Markets & companies, Raw materials market

Lanxess exceeds market expectations with strong second quarter 2015

Monday, 3 August 2015

Specialty chemicals company Lanxess will achieve second quarter 2015 results that exceed current market expectations.

Lanxess with headquarters in Cologne, Germany, generated sales of EUR 8.0 billion in 2014. Source: Lanxess

Lanxess with headquarters in Cologne, Germany, generated sales of EUR 8.0 billion in 2014. Source: Lanxess

EBITDA pre exceptionals for the second quarter 2015 is estimated to come in at EUR 270 million, which is around 7 percent above analyst consensus estimates of EUR 253 million. Compared to the previous year, all three segments posted higher results.

Experiencing from currency effects

In the prior-year quarter, Lanxess’ EBITDA pre exceptionals reached EUR 239 million. In comparison, the second quarter 2015 result was positively impacted for instance by savings from the realignment program and the favorable currency effect from the strong US dollar.
"Tailwinds we are experiencing from currency effects and the economic upturn persist,”  said Matthias Zachert, Lanxess’ Chairman of the Board of Management. "But above all, we keep making good progress with our realignment program. We are increasingly benefiting from the measures that we adopted in the past months.”
Net income for the second quarter 2015 is expected at EUR 87 million, resulting in earnings per share (EPS) of EUR 0.95. Current market expectations for net income of EUR 62 million and for EPS of EUR 0.68 will thus be exceeded by around 40 percent each. Amongst others, one-time exceptional earnings from asset sales are contributing to this deviation. In the second quarter 2014, net income amounted to EUR 55 million and earnings per share to EUR 0.63.

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