Specialty chemicals company LANXESS projects the highest full year results in company history, following a very strong first quarter of 2017 and the successful closing of the acquisition of U.S. based company Chemtura.
Global sales of the specialty chemicals company increased by a substantial 25 percent to EUR 2.4 billion in the first quarter of 2017, up from EUR 1.9 billion a year earlier. EBITDA pre exceptionals also improved by 25 percent to EUR 328 million, compared with EUR 262 million in the first quarter of 2016. The very positive first-quarter development was primarily driven by a significant increase in volumes across all segments.
The EBITDA margin pre exceptionals came in at 13.7 percent, slightly above the prior-year figure of 13.6 percent.Net income rose significantly by 47 percent to EUR 78 million, against EUR 53 million in the year-earlier quarter.
For the full year 2017, the company expects EBITDA pre exceptionals of between EUR 1.225 billion and EUR 1.3 billion. This forecast includes the earnings contribution from the newly acquired Chemtura businesses. 2017 could therefore be the most successful fiscal year in the company’s history. LANXESS achieved its highest operating result to date in 2012, when it posted a figure of around EUR 1.2 billion.
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