Lanxess takes action against weak demand

摘要

Lanxess posted lower earnings in Q1 2013 as expected, due to a weak market environment, particularly in the tyre and automotive industries. Q1 sales were down by 12% yr-on-yr to ?2.1 bn, mainly due to lower volumes and fallen selling prices. EBITDA pre exceptionals moved back by 53% yr-on-yr ?174M and was thus within the target corridor of between ?160M-?180M communicated in March. The operating result was diminished by scheduled one-time effects of about ?30M for the start-up of the new butyl rubber plant in Singapore and the conversion to Keltan ACE technology at the EPDM rubber plant in Geleen, The Netherlands.