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LANXESS Posts Loss From Cont. Ops. In Q1; Sales Down 15.4%

May 08, 2024 — 01:36 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - LANXESS (LNXSF.PK) posted a first quarter loss from continuing operations of 98 million euros compared to profit of 10 million euros, previous year. EBITDA pre exceptionals was at 101 million euros, 46.6 percent below the previous year's figure. The company said the main reasons for the decline in earnings were lower sales prices and continued weak demand in numerous customer industries. In the first quarter, sales fell by 15.4 percent to 1.61 billion euros. For the full year 2024, the Group expects an increase in EBITDA pre exceptionals of 10 to 20 percent. LANXESS expects a sequential increase in EBITDA pre exceptionals for the second and third quarter of 2024 and a more subdued development in the fourth quarter. LANXESS anticipates a slight upturn in demand over the remainder of the year.

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