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LANXESS Adjusts 2009 Earnings Forecast - The specialty chemicals company LANXESS AG adjusted its earnings forecast for the business year 2009 after having a significantly better-than-expected fourth quarter, according to preliminary unaudited results
LANXESS Adjusts 2009 Earnings Forecast

 

NewswireToday - /newswire/ - Leverkusen, Germany, 2010/03/01 - The specialty chemicals company LANXESS AG adjusted its earnings forecast for the business year 2009 after having a significantly better-than-expected fourth quarter, according to preliminary unaudited results. FRA: DE Frankfurt: LXS

   
 
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LANXESS now expects to achieve EBITDA pre exceptionals of EUR 450-470 million for the full year 2009 after previously forecasting EUR 400-420 million at the publication of the third quarter results in November 2009. LANXESS posted EBITDA pre exceptionals of EUR 721 million in 2008.

The company’s synthetic rubber activities profited in the final weeks of the previous business year from the unexpected strong development in Asia as well as the strong demand for winter tires in Europe and North America. Notably, demand in the month of December was stronger than the usual seasonal trend.

“This performance is very satisfying. However, the effects of the economic crisis are still noticeable in particular in Europe and North America. Therefore, the implemented cost-saving measures of our “Challenge” program have to be continued,” said Axel C. Heitmann, Chairman of the Board of Management of LANXESS AG.

LANXESS will publish its final full-year earnings for 2009 at its annual press conference in Cologne on March 17, 2010.

LANXESS is a leading specialty chemicals company with sales of EUR 6.58 billion in 2008 and currently around 14,600 employees in 23 countries. The company is represented at 43 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.

Forward-Looking Statements
This news release contains forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

All LANXESS news releases and their accompanying photos can be found at corporate.lanxess.de/en/.

You can find further information concerning LANXESS chemistry in our WebMagazine webmagazine.lanxess.com/.

Rudolf Eickeler
Spokesperson Financial and Business Media
T: +49 214 30 40483
F: +49 214 30 50691
E: rudolf.eickeler[.]lanxess.com.

 
 
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Written by / Agency / Source: LANXESS

 
 

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LANXESS Adjusts 2009 Earnings Forecast

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LANXESS Press |
Publisher Contact: Daniel Smith - LANXESS.com 
+49 214 30-75179 daniel-alexander.smith[.]lanxess.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any LANXESS securities in any jurisdiction including any other companies listed or named in this release.

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