LANXESS raises 2010 earnings forecast
The specialty chemicals company LANXESS AG raised its earnings forecast for the business year 2010 after having a significantly better-than-expected second quarter.
LANXESS now expects to achieve EBITDA pre exceptionals to be roughly EUR 800 million for the full year 2010 after previously forecasting EUR 650-700 million at the publication of the first quarter results in May 2010.
The company more than doubled EBITDA pre exceptionals in the second quarter to EUR 269 million from EUR 112 million a year ago. Earnings were driven, in particular, by ongoing strong demand for synthetic rubber in Asia and notably Latin America.
LANXESS is a leading specialty chemicals company with sales of EUR 6.7 billion in 2023. The company currently has about 12,400 employees in 32 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives and consumer protection products. LANXESS has achieved leading positions in the Dow Jones Sustainability Index and the MSCI ESG and ISS ESG ratings, among others, for its commitment to sustainability.
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 accepts any liability whatsoever arising directly or indirectly from the use of this document.
