LANXESS: EBITDA pre exceptionals for second quarter 2024 significantly above market expectation

Cologne

Specialty chemicals company LANXESS expects to achieve a second quarter 2024 EBITDA pre exceptionals that considerably exceeds average market expectation and previous year's level.

The preliminary EBITDA pre exceptionals for the second quarter 2024, still subject to auditors’ review, is expected to amount to EUR 181 million which exceeds average market expectation of EUR 137 million (VARA consensus) by 32 percent and the prior year’s quarter by 69 percent which amounted to EUR 107 million EBITDA pre.

The second quarter result was driven by higher utilization rates following the severe and intended inventory reduction in 2023. Further support came from the successful implementation of LANXESS’ cost saving program. Compared to the second quarter of 2023, sales volumes increased in some customer industries, albeit offset by a persistent weak demand for agro chemicals and ongoing difficult market conditions in the construction industry.

LANXESS CEO Matthias Zachert: “We are benefiting from the fact that we have consistently adjusted our cost structures in recent months and have become more efficient: wherever demand picks up further, we will be in a far better position to benefit from it. Although we do not see any signs of a broad market recovery, we are confident, that we are well positioned as we have successfully strengthened our portfolio towards sustainability and market leadership over the past few years.”

LANXESS confirms the full-year EBITDA pre guidance of an expected growth of 10 to 20 percent versus previous year and now expects EBITDA pre for the third quarter 2024 to be close or up to the level of the second quarter.

LANXESS will release its full results for the second quarter of 2024 on August 9, 2024.

Information for editors:
All global LANXESS news releases and their accompanying photos can be found at http://press.lanxess.com.
Recent photos of the Board of Management and other LANXESS image material are available at http://photos.lanxess.com.

 

MORE ABOUT THIS TOPIC

PRESS RELEASE
Modular plant for water purification usimg Lewatit TP 108 DW ion exchange resin. Operatot De Watergroep, Belgium

LANXESS’ ion exchange resin for mobile water treatment unit for PFAS removal

November 19, 2024
PRESS RELEASE
refrigeration lubricant, synthetic ester lubricant Everest ESR 220, HVAC (heating, ventilation and air conditioning) and refrigeration systems

LANXESS launches environmentally sustainable refrigeration lubricant Everest ESR 220

November 13, 2024
PRESS RELEASE
Since August 1, 2013, specialty chemicals Group LANXESS is steering its global business from the LANXESS Tower in Cologne.

LANXESS significantly increases earnings in the third quarter of 2024

November 07, 2024
PRESS RELEASE
LANXESS Headquarters in Cologne

LANXESS signs contract to sell Urethane Systems business to UBE Corporation

October 03, 2024
PRESS RELEASE
LANXESS corporate headquarters in Cologne

LANXESS signs new sustainable credit line for EUR 800 million

September 26, 2024