Lanxess Reports Sales and Earnings Improvements

Preliminary reports show that Germany chemical company Lanxess AG increased its sales and earnings in 2004, benefiting from a general upturn in the industry. The company significantly improved on its operating results achieving 59 million euros EBIT, recovering from a 1.3 billion euro loss in 2004. According to the un-audited figures, sales rose more than 7 per cent to 6.773 billion euros in 2004. Earnings (EBITDA) for the reporting period increased by 44 per cent to 447 million euros. At the same time the company reduced net debt to around 1.1 billion euros. In the final quarter of 2004, the company posted a fourth-quarter operating loss (EBIT) of 17 million euros, following a loss of 1.2 billion euros in the same period of 2003.