Specialty chemicals company LANXESS projects the highest full year results in company history,following a very strong first quarter of 2017 and the successful closing of the acquisition of U.S. based company Chemtura.
Global sales of the specialty chemicals company increased by a substantial 25 per cent to EUR 2.4 billion in the first quarter of 2017, up from EUR 1.9 billion a year earlier. For the full year 2017, the company expects EBITDA pre exceptionals of between EUR 1.225 billion and EUR 1.3 billion. This forecast includes the earnings contribution from the newly acquired Chemtura businesses. 2017 could therefore be the most successful fiscal year in the company’s history. LANXESS achieved its highest operating result to date in 2012, when it posted a figure of around EUR 1.2 billion.
“LANXESS got off to a very strong start to the new fiscal year. We recorded an increase in demand in all of our business segments and generated higher sales in all regions. This clearly shows that we have the right positioning,†said Matthias Zachert, Chairman of the Board of Management of LANXESS AG. “Good order flow and a dynamic business environment appear to continue in the second quarter – for the full year, we are even expecting record earnings. This is a clear indication of our operational strength, which will be further enhanced by the Chemtura acquisition. Our job now is to ensure the swift and smooth integration of the new businesses.â€Â
In what was another major step forward in its realignment program, LANXESS closed the acquisition of U.S. chemical company Chemtura around three weeks ago. With the largest acquisition in its history, the Cologne-based company is significantly expanding its additives portfolio in particular and will become one of the world’s major actors in this growing market.