LANXESS: EBITDA pre exceptionals for fourth quarter 2020 estimated above market expectations
Specialty chemicals company LANXESS expects to achieve fourth quarter 2020 EBITDA pre exceptionals that considerably exceeds average market expectations and previous year’s level.
EBITDA pre exceptionals for the fourth quarter 2020 is estimated to amount to EUR 200 million, which exceeds average market expectations of EUR 181 million by 10 percent.
“Q4 2020 is expected to be the strongest final quarter we have seen in 8 years. The fact that we achieved this even during the global Corona pandemic shows: Thanks to our stable set-up, we are resilient even and especially in times of crisis,” said Matthias Zachert, Chairman of the Board of Management of LANXESS AG.
The fourth quarter result was positively influenced by a stronger than expected increase in demand especially from the automotive industry particularly in the month of December. LANXESS supplies this industry mainly through its Engineering Materials segment. The Advanced Intermediates and Specialty Additives segments also recorded a business development above expectations. The Consumer Protection segment performed well, as expected. These positive developments also more than offset the effects of an unplanned production shutdown in Belgium in the Engineering Materials segment and adverse currency effects from the US dollar.
In the prior-year quarter, LANXESS EBITDA pre exceptionals reached EUR 197 million.
LANXESS will release its final results for the fourth quarter 2020 and the fiscal year 2020 on March 11, 2021. 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.
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