Lanxess raises 2016 guidance after strong Q1 - leatherbiz: Leading new Leatherbiz

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Lanxess raises 2016 guidance after strong Q1

11/05/2016

Speciality chemicals company Lanxess has reported EBITDA pre exceptionals of €262 million for the first quarter of 2016. This represents a 14% increase on the same period last year when EBITDA was €229 million.

The strong start to 2016 has seen the company raise its earnings forecast for the year to between €900 and €950 million.

“We started fiscal 2016 with a good first quarter and the second quarter has begun well. For this reason, we are raising our guidance for the full year,” said Matthias Zachert, chairman of the board of management at Lanxess.

Net income increased from €22 million in the first quarter of 2015 to €53 million this year but sales were down 6% from €2.04 million to €1.92 million.


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