Lanxess confirms FY forecast; EU label expected to stimulate business
At the company’s Annual Stockholders’ Meeting on 15 May, Lanxess CEO Axel C. Heitmann stated that the specialty chemicals firm remains on course for growth in 2012. “We will continue to pursue our successful strategy of focusing on dynamic markets, megatrends, profitable growth and a solid financial basis,” said Heitmann. The company confirmed its forecast for the full-year 2012: EBITDA pre-exceptionals is expected to grow by between five and ten per cent compared with last year.
The foundation for this full-year growth was laid by Lanxess’ first-quarter results: EBITDA pre-exceptionals climbed nearly 15 per cent year-on-year to 369 million euros in the three-month period. Net income rose 16 per cent to 193 million euros and sales increased 15 per cent to 2.4 billion euros. In addition, Lanxess reports that it expects EBITDA pre-exceptionals in the second quarter to be roughly level with the first quarter of 2012, and thus well above the 339 million euros reported for the second quarter of last year.
As for the medium-term, the target of reaching about 1.4 billion euros in EBITDA pre-exceptionals in 2015 remains a goal for Lanxess. The company believes the basis for achieving this was further improved by last year’s record results; in 2011, sales climbed 23 per cent over the previous year to nearly 8.8 billion euros. EBITDA pre exceptionals in 2011 topped 1 billion euros for the first time, rising to 1.15 billion euros against 918 million euros in 2010. In light of these results, the company’s Board of Management and the Supervisory Board proposed to the Annual Stockholders’ Meeting that the dividend for 2011 be raised by 21 percent year-on-year to 0.85 euro cents per share.
‘Green mobility’ a growth driver
In addition to sharing the company’s financial performance, in his AGM address Heitmann described the megatrend of mobility as one of the most important factors for Lanxess’ commercial success. He said sustainable solutions are needed to master the challenges associated with this trend, such as the growing burden on the environment. Lanxess has therefore declared “Green Mobility” – in other words, more eco-friendly mobility – its key theme for 2012.
Lanxess also expects the EU tyre labelling regulation coming into effect in November to stimulate its high-performance rubbers business. “Of all the possible options for making mobility more eco-friendly, ‘green tyres’ is the technology with which motorists can achieve the biggest reduction in CO2 emissions for every euro spent,” Heitmann commented.
Related news:
Comments