Lanxess increases operating profit
Of the
specialty chemicals company benefits from higher prices. “Lanxess was able to pass on the sharp rise in raw material and energy costs to the market in the second quarter through significantly higher selling prices,” the group announced on Thursday.
That Operating profit (Ebidta before special items) climbed by 14.5 percent to 253 million euros in the quarter. Of the Sales volume rose significantly by 36.1 percent to around two billion euros.
For 2022, Lanxess expects more significant growthbut made his forecast more precise in view of the restructuring of the group: Lanxess assumes EBITDA before special items of 900 million to one billion euros.
Compared to the adjusted level of the previous year of around 800 million euros, this would correspond to oner Increase of up to 25 percent. Lanxess announced in May that it would bring its High Performance Materials (HPM) division into a joint venture with the financial investor Advent in order to reduce its dependency on the automotive industry. Lanxess now reports the unit as a discontinued operation.