Lanxess' earnings resist economic gloom

Cologne, Germany – Lanxess has confirmed its earnings forecast for the current fiscal year and expects earnings to remain stable compared with the previous year.

In a 9 July statement, the group predicted EBITDA pre-exceptionals to come in at between €1.000 billion and €1.050 billion in 2019.

For the previous year, the Cologne-based maker of polymers speciality chemicals achieved a result of €1.016 billion.

The group has recently completed a major realignment, including the sale of its rubber business to Saudi Aramco.

Lanxess is now much more stable than a few years ago, according to chairman Matthias Zachert.

“We have reduced our dependence on individual volatile industries and further balanced our regional positioning,” he said.

“We are therefore sticking to our forecast for 2019, which we issued in May, despite the increasingly gloomy economy,” concluded Zachert.