Home / Knowledge / News / Textiles / LANXESS AG perfomance shows turnaround
LANXESS AG perfomance shows turnaround
11
Mar '08
Specialty chemicals company LANXESS AG significantly improved its earnings in 2007. EBITDA pre exceptionals rose by 6.5 percent to EUR 719 million, close to the top end of the earnings guidance range of EUR 700 to EUR 720 million.

The EBITDA margin pre exceptionals moved ahead to 10.9 percent, compared to 9.7 percent in the previous year. “This positive earnings performance shows that LANXESS has definitively achieved the turnaround.

Last year we came even closer to the profitability level of our competitors,” said LANXESS AG Board of Management Chairman Axel C. Heitmann, presenting the Group's 2007 results in Düsseldorf.

Sales for 2007 came in at EUR 6.61 billion, down 4.8 percent from the prior-year figure of EUR 6.94 billion. After adjusting for currency and portfolio effects of 9.8 percent, however, sales growth was 5.0 percent.

The decline in sales resulted partly from the divestment of the Lustran Polymers business unit. The same applies to the drop in Group net income from EUR 197 million in 2006 to EUR 112 million last year, which was due primarily to the exceptional charges related to this divestment.

“We withdrew from this highly cyclical business at exactly the right time,” commented Heitmann. “Lustran Polymers was heavily dependent on petrochemical raw materials, the prices of which were highly volatile.

LANXESS can now present itself as a flexible and very solid specialty chemicals group at the core of the chemical industry with considerably increased earning power.” Net financial debt declined further from EUR 511 million to EUR 460 million.

Click here to view more:

LANXESS AG

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Ritu Kumar
Label Ritu Kumar

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

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search