Home / Knowledge / News / Textiles / Lanxess EBITDA plunges 39.9% to €735mn in FY'13
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


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

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

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

July 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

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

Yes No

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

Yes No

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


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



X