Lanxess raises guidance for full-year 2015

After a healthy Q2 2015 growth, Lanxess had raised its guidance for the full-year 2015 the first-time, and announced to achieve EBITDA pre exceptional between €840 million and €880 million. Following its Q3 results, the company now expects to achieve EBITDA pre exceptional between €860 million and €900 million.

EBITDA pre exceptional improved by around 12 per cent to €235 million in the third quarter of 2015. Its net income was up by 17 per cent to €41 million.

Lanxess is also accelerating the second phase of its realignment programme. From the optimisation of its global plant network, the group anticipates additional annual savings of €150 million.

“Our business performance in the first nine months of 2015 was satisfactory,” said Matthias Zachert, chairman of the Board of Management of Lanxess AG. “However, we also recognise that global economic growth is subdued and many emerging markets are marked by uncertainty. In view of this, we have once again picked up the pace of our realignment.”

“This is already having an impact on our operating result and our guidance for the year,” he said. (MCJ)

Fibre2Fashion News Desk — India