· Sales expected to increase by 44 percent compared to prior-year quarter
·
Expected sales of
EUR 2.432 billion exceed average market expectations by 8.5 percent
·
Growth of EBITDA
pre exceptionals of 32 percent expected compared to prior-year quarter
·
Expected EBITDA pre
exceptionals of EUR 320 million
around 7 percent above average market expectations
April 22, 2022 –
Specialty chemicals company LANXESS expects both EBITDA pre exceptionals and
sales for Q1 2022 to be significantly above average market expectations and the
prior-year result.
EBITDA pre exceptionals for Q1 2022 is expected to be EUR 320 million,
exceeding average market expectations of EUR 300 million by around 7 percent.
Sales for Q1 2022 are expected to be EUR 2.432 billion, exceeding average
market expectations of EUR 2.241 billion by 8.5 percent.
LANXESS CEO Matthias Zachert said, "The realignment of LANXESS is proving
its worth, especially in difficult times. Demand for our high-margin specialty
chemicals products remains high now. This course makes us less vulnerable to
global fluctuations in demand. Nevertheless, given the geopolitical
uncertainties, we remain very vigilant for the rest of the year."
In the prior-year quarter, LANXESS achieved sales of EUR 1.693 billion and
EBITDA pre exceptionals of EUR 242 million. The expected sales for the first
quarter of 2022 thus represent an increase of 44 percent over the prior-year
quarter; the EBITDA pre exceptionals expected for Q1 2022 is 32 percent higher
than in the prior-year quarter.
LANXESS will report its final results for Q1 2022 on May 5, 2022. All figures
in this release are preliminary and unaudited.
Detailed information
is available for download here
About LANXESS
LANXESS is a leading specialty chemicals company with sales of EUR 6.1 billion in 2020. The company currently has about 14,300 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.
LANXESS China
On January 31, 2005, the company was initially listed on the Frankfurt Stock Exchange and LANXESS Chemical (China) Co., Ltd. officially started operations. LANXESS now has 15 subsidiaries, 7 R&D centers and 8 production sites with around 1,500 employees in Greater China. LANXESS works closely with its local partners to develop market-oriented solutions that meet local market needs.
Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development, or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.
