Effects of restructuring begin to show at Lanxess
17/11/2005
Specialty chemical company Lanxess has reported more positive financial results in the third quarter of 2005 which have been attributed to the implementation of restructuring measures, supported by strong growth in the chemical industry as a whole.
The company’s operating results before depreciation and amortization increased by 41% from the same period of the previous year to reach €148 million (2004: €105 million). Sales increased by 0.7% to €1,776 million (2004: €1,764 million). Net financial debt was reduced to €811 million, from €1,250 million on June 30, 2005, and by 28.5% compared with December 31, 2004.
"The measures we have initiated to improve our performance are bearing fruit more quickly than expected," explained Lanxess’ Management Board chairman Axel Heitmann.
The company’s operating results before depreciation and amortization increased by 41% from the same period of the previous year to reach €148 million (2004: €105 million). Sales increased by 0.7% to €1,776 million (2004: €1,764 million). Net financial debt was reduced to €811 million, from €1,250 million on June 30, 2005, and by 28.5% compared with December 31, 2004.
"The measures we have initiated to improve our performance are bearing fruit more quickly than expected," explained Lanxess’ Management Board chairman Axel Heitmann.
Share this story:
