Home / Knowledge / News / Textiles / Exceptional charges of €275mn to affect Lanxess Q4 EBIT
Exceptional charges of €275mn to affect Lanxess Q4 EBIT
26
Feb '14
Specialty chemicals company LANXESS has undergone impairment tests, according to IAS 36, that result in exceptional charges of EUR 257 million in the fourth quarter of 2013.
 
Due to the expected development of overcapacities, as well as raw material and energy costs, a competitive environment is anticipated in which future cash flow contributions no longer reflect the book values of the business units Keltan Elastomers and High Performance Elastomers (Performance Polymers segment), as well as Rubber Chemicals (Performance Chemicals segment). 
 
The impairment charges are being incurred financially in the fourth quarter of 2013 and affect EBIT and net income in 2013. They are, however, not cash relevant.
 
The above-mentioned impairment charges, together with exceptional expenses of about EUR 30 million, brought forward within the “Advance” efficiency program, result in a negative net income and earnings per share (EPS) in the fourth quarter of 2013, as well as full year 2013. 
 
The full-year net loss for 2013 is expected to be EUR 159 million. Full-year EPS is expected to be negative at EUR 1.91. EBITDA pre exceptionals is not subject to the impairment charges and is expected to be EUR 735 million, within the guided range of EUR 710-760 million. Sales are expected to be EUR 8.3 billion. The final numbers will be provided in the 2013 consolidated financial statements that have not yet been completed.
 
Subject to Supervisory Board approval, the Board of Management plans to propose a dividend of EUR 0.50 per share for the business year 2013 at the Annual General Meeting on May 22, 2014. LANXESS paid a dividend of EUR 1 per share for the business year 2012.
 
For the full year 2014, LANXESS expects a slightly improved EBITDA pre exceptionals due alone to the absence of one-off items, even if selling prices remain at low levels. 
 

Lanxess


Must ReadView All

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search