Home / Knowledge / News / Textiles / Lanxess 2013 EBITDA plummets 40%
Lanxess 2013 EBITDA plummets 40%
20
Mar '14
In what remains a difficult competitive environment, specialty chemicals group LANXESS expects EBITDA pre exceptionals of around EUR 200 million for the first quarter of 2014. In the prior-year quarter, the company posted EBITDA pre exceptionals of EUR 174 million that was burdened by several factors including start-up costs. 
 
Highlights: 
-Full-year 2013 sales fall by nine percent to EUR 8.3 billion
-EBITDA pre exceptionals declines by 40 percent to EUR 735 million
-Group net loss of EUR 159 million impacted by impairment charges
-Proposed dividend of EUR 0.50 per share
-Q1 2014 EBITDA pre exceptionals expected to be around EUR 200 million
 
LANXESS also confirmed the preliminary figures for fiscal 2013 published on February 26, 2014. 
 
Sales fell by nine percent against the prior year to EUR 8.3 billion. This development was primarily due to lower selling prices in the Performance Polymers segment resulting from declining raw material prices and the challenging competitive situation. EBITDA pre exceptionals decreased by 40 percent year on year to EUR 735 million and was thus within the guided range of EUR 710 million to EUR 760 million. 
 
This was also attributable to an increase in production-related costs and negative currency effects. The slight increase in volumes could not compensate for the decline in earnings. The Group's EBITDA margin pre exceptionals fell to 8.9 percent from 13.4 percent in 2012.
 
In the fourth quarter of 2013, Group net income was impacted by impairment charges of EUR 257 million in the Performance Polymers segment (business units Keltan Elastomers and High Performance Elastomers) and the Performance Chemicals segment (business unit Rubber Chemicals), as well as by exceptional charges of some EUR 30 million brought forward for the “Advance” efficiency program. 
 
These resulted in a net loss for the full year of EUR 159 million, representing earnings per share of minus EUR 1.91. In 2012, Group net income amounted to EUR 508 million, with earnings per share of EUR 6.11.
 
"Behind us lies a challenging year," said LANXESS Chief Financial Officer Bernhard Duettmann. "Negative effects were the volatile raw material prices and increasing competition, especially in the synthetic rubber business."
 
The company will propose to the Annual Stockholders’ Meeting on May 22, 2014, that a dividend of EUR 0.50 per share be paid for 2013. This would result in a total dividend payment of around EUR 42 million. A dividend of EUR 1.00 per share was paid for 2012. 
 
 
Click here to view full results.
 

LANXESS


Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Top executives, Textile industry

Top executives
Textile industry

Sustainable fashion is also ‘slow fashion’

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Boban Charly,

Boban Charly

Bierrebi designs and manufactures automatic machines that cut fabric into...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

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

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

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

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

Leave your Comments


November 2019

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

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search