Despite rising costs, the group is confident about the current year.
(Photo: dpa)
Frankfurt The specialty chemicals group Lanxess ended the past year with a significant increase in earnings despite higher costs for energy and raw materials. The adjusted operating result (Ebitda) climbed by a good 17 percent to 1.01 billion euros, as the Cologne-based company announced on Friday.
Lanxess thus achieved its targets for the year. In the fourth quarter, earnings increased by 6.5 percent to 213 million euros. Analysts had expected an average of just under 215 million. Rising costs are increasingly troubling the company and depressing the operating return.
Group sales rose in 2021 – also thanks to the takeover of the US specialty chemicals manufacturer Emerald Kalama Chemical – by around 24 percent to 7.56 billion euros.
“We announced a year of growth for 2021 – and against all odds we delivered. We were able to largely pass on the extreme increases on the cost side to the market,” said CEO Matthias Zachert. Shareholders are to receive a dividend of EUR 1.05, which is five cents higher.
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Despite rising costs, Zachert is confident about the current year. “We expect further price increases for energy and raw materials in the first half of 2022. Global supply chains also remain fragile. Nevertheless, we are expecting another significant increase in earnings for this financial year.” The effects of the war in Ukraine are still unclear. For the first quarter, Lanxess is aiming for an increase in earnings to EUR 280 to 320 (previous year: 242) million.
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