Lanxess Q1 sales up on price hike, aquisitions
The successful acquisitions, especially that of Emerald Kalama Chemical, likewise made a positive earnings contribution.
Specialty Chemicals company, Lanxess‘ Q1 2022 sales is up 43.7 percent at 2.432 billion euros compared to 1.693 billion euro revenue in Q1 2021. All the segments contributed to the growth, with the Specialty Additives segment performing particularly well.
Lanxess passed on the significantly increased raw material and energy costs via higher selling prices. The successful acquisitions, especially that of Emerald Kalama Chemical, likewise made a positive earnings contribution.
Going into the second quarter, the Group expects EBITDA, pre-exceptionals, to hover around last year’s levels or inch up slightly, in the range of 280-350 million euros. For the full year, Lanxess expects EBITDA, pre-exceptionals, to be significantly higher than in the previous year. However, the guidance does not take into account potential further impact of the Ukraine-Russia conflict and the contribution of the acquisition of IFF’s Microbial Control business. The transaction is expected to closed in the third quarter.
Matthias Zachert, Chairman of the Board of Management of Lanxess said, “With our focus on specialty chemicals, we have built up strong market positions in recent years, which are particularly paying off in the current situation. We can thus pass on higher raw material and energy costs via our selling prices. However, it is impossible to predict the impact of the war in Ukraine on future business performance. We are therefore monitoring the further developments very closely.“
The company currently has about 14,900 employees in 33 countries. The core business of Lanxess is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. Lanxess is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.
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