LANXESS: Earnings for second quarter 2015 above market expectation
Specialty chemicals company LANXESS will achieve second quarter 2015 results that exceed current market expectations. EBITDA pre exceptionals for the second quarter 2015 is estimated to come in at EUR 270 million, which is around 7 percent above analyst consensus estimates of EUR 253 million.
In the prior-year quarter, LANXESS’ EBITDA pre exceptionals reached EUR 239 million. In comparison, the second quarter 2015 result was positively impacted for instance by savings from the realignment program and the favorable currency effect from the strong US dollar.
Net income for the second quarter 2015 is expected at EUR 87 million, resulting in earnings per share (EPS) of EUR 0.95. Current market expectations for net income of EUR 62 million and for EPS of EUR 0.68 will thus be exceeded by around 40 percent each. Amongst others, one-time exceptional earnings from asset sales are contributing to this deviation. In the second quarter 2014, net income amounted to EUR 55 million and earnings per share to EUR 0.63.
LANXESS will release its final results for the second quarter and the first half of 2015 on August 6, 2015. All figures provided in this release are preliminary and unaudited.
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 accepts any liability whatsoever arising directly or indirectly from the use of this document.
