‘Ambitious growth strategy’ paying off as Lanxess profits jump 60% in Q1
The year has started well for Lanxess. After achieving what it calls its “best-ever quarterly result in the first quarter,” the German specialty chemical company says it is on track to achieve EBITA pre-exceptionals in excess of one billion euros in 2011; during the first quarter its EBITA pre-exceptionals rose 38 per cent year-on-year to 322 million euros, with double-digit growth recorded in all its segments and regions. The company’s sales increased 29 per cent year-on-year in the three months to March 31, 2011 due to higher volumes and price increases that helped offset rising raw material costs. EBITDA margin pre exceptionals rose to 15.5 per cent in the first quarter from 14.4 per cent a year earlier and net profit increased 60 per cent year-on-year to 166 million euros.