Lanxess releases preliminary figures for fiscal 2004
German chemical company Lanxess AG has increased 2004 sales and earnings as planned. According to preliminary, unaudited figures, sales rose more than 7% to €6,773 million (2003: €6,315 million). Earnings before interest, taxes, depreciation and amortisation pre-exceptionals for the reporting period increased by 44% to €447 million (2003: €311 million). The operatings result improved to €59 million from a prior-year loss of €1.3 billion. As planned, net financial debt was reduced to around €1.1 billion.
In the fourth quarter of 2004, sales increased some 16% to €1,726 million (2003: €1,487 million). Among the reasons for this growth were higher sales posted by the Styrenic Resins Business Unit. In line with expectations, the company posted a fourth-quarter operating loss of €17 million, following a loss of €1.2 billion in the same period in 2003.
Lanxess is a provider of polymers and chemicals with a comprehensive product portfolio in the fields of polymers and basic, specialty and fine chemicals.
