Lanxess Says 2014 Earnings Exceed Expectations
German specialty chemicals producer Lanxess expects to show higher than anticipated EBITDA pre-exceptionals for the fourth quarter and full year 2014, when it presents its annual results on March 19, CEO Matthias Zachert said.
For the fourth quarter, Lanxess expects to report about EBITDA pre exceptionals of about €154 million, thanks to stronger than originally expected demand in December.
The pre-exceptionals earning figure for the full year is forecast to come in at around €808 million, up from the €735 million reported for 2013.
"In autumn, Zachert said, "we were witnessing restrained orders due to customer destocking in the rubber business in light of falling oil prices. "Surprisingly, this development was considerably less strong in December."
The CEO said Lanxess profited additionally from lower raw material costs in the Advanced Intermediates segment, while earnings in the Performance Chemicals segment were flat.
