December sales buoy Lanxess’ earnings

Cologne - Lanxess AG expects earnings (EBITDA) pre exceptionals to come in higher than previously anticipated for the fourth quarter and the fiscal year 2014.

Against €735 million reported in fiscal 2013, EBITDA pre exceptionals for fiscal 2014 is expected to increase to around EUR 808 million, the speciality chemicals company said 28 Jan. The equivalent Q4 result is expected at around €154 million.

"In autumn, we were witnessing restrained orders due to customer destocking in the rubber business in light of falling oil prices. Surprisingly, this development was considerably less strong in December," said chairman Matthias Zachert.

Additionally, Lanxess profited from lower raw material costs in the Advanced Intermediates segment, while earnings in the Performance Chemicals segment came in at the expected level.

The figures, though, preliminary and unaudited, noted Lanxess, which will release final results for fiscal 2014 on 19 March.