Germany’s LANXESS Q2 net profit dips 2.8% on one-off charges

07 August 2012 07:35  [Source: ICIS news]

SINGAPORE (ICIS)--LANXESS’ net profit fell by 2.8% year on year to €176m ($217m) in the second quarter of this year, weighed by exceptional charges from reorganisation at its performance chemicals segment, the German specialty chemicals maker said on Tuesday.

Its sales was up by 8.1% year on year at €2.42bn in the second quarter as a result of “currency effects” and higher selling prices of products, the company said in a statement.

The firm’s pre-exceptionals earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 6.8% year on year to €362m in the same period, LANXESS said.

Looking ahead, the company said that it expects raw material and energy costs to remain volatile in the second half of the year.

“Our performance is reflected against a very strong previous year and we are on the way to achieving an even better result in 2012 after our strong second quarter,” LANXESS CEO Axel Heitmann said in the statement.

For the whole 2012, the company expects its pre-exceptionals EBITDA to grow by 5-10%, Heitmann said.

($1 = €0.81)

By: Nurluqman Suratman

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly