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Lanxess EBITDA plunges 39.9% to €735mn in FY'13
30
May '14
At this year's Annual Meeting of Stockholders in the LANXESS arena in Cologne, specialty chemicals group LANXESS presented the results of fiscal 2013 to some 2,000 shareholders.
 
Highlights:
-Dividend proposal of 0.50 Euro per share
-Modest start to fiscal 2014
-Realignment of Group started
-Capital increase successfully completed
 
“We are currently facing major challenges – especially as the competitive environment for our business with synthetic rubber has changed. And this is clearly reflected in our results for fiscal 2013,” said Matthias Zachert, Chairman of the Board of Management of LANXESS AG, in his speech. 
 
In 2013, sales fell by 8.7 percent against the prior year to EUR 8.3 billion. EBITDA pre exceptionals decreased by 39.9 percent to EUR 735 million. The Group net loss of EUR 159 million was mostly attributable to impairment charges.
 
The Board of Management and the Supervisory Board proposed to the Annual Stockholders' Meeting that a dividend of EUR 0.50 per share be paid for 2013. The total payout amounts to about EUR 46 million.
 
Modest start to fiscal 2014
LANXESS’ start to the business year 2014 was subdued. First-quarter sales were down by 2.5 percent year-on-year to EUR 2 billion. EBITDA pre exceptionals rose by 17.8 percent to EUR 205 million. Net income came in at the prior-year level of EUR 25 million.
 
“We were able to increase our operating result, but business still remains at a rather low level,” said Zachert.
 
Click here to view full results.
 

LANXESS

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