LANXESS records significant gains in Germany, China
22 May '06
3 min read
LANXESS Deutschland GmbH announces the first quarter results of 2006. LANXESS got off to a good start in fiscal 2006, with year-on-year growth in earnings (EBITDA pre exceptionals) in double digits for the period from January to March, 2006.
The operating result (EBIT) pre exceptionals improved by 18.2 percent to EUR 143 million (EUR 121 million).
In the EMEA region (Europe [except Germany], Middle East, Africa), the Group sales fell by just 3.3 percent, to EUR 619 million (EUR 640 million), while business in Germany expanded considerably, advancing by 6.9 percent to EUR 417 million (EUR 390 million). In the Americas region, LANXESS increased sales by 10.7 percent to EUR 497 million (EUR 449 million).
Helped by the continuing dynamic growth in the region, sales in Asia/Pacific rose by 21.2 percent to EUR 303 million (EUR 250 million). Business in China showed very pleasing growth, increasing by over 40 percent. The Asia/Pacific region's share of Group sales rose to 16.5 percent, from 14.5 percent in the prior-year quarter.
Sales in the Performance Rubber segment were up significantly, climbing by 11.7 percent to EUR 438 million (EUR 392 million). The increased cost of energy and raw materials, particularly butadiene and isobutylene, led to price increases in all business units. EBITDA pre exceptionals increased by 26.8 percent to EUR 71 million (EUR 56 million).
In the Styrenic Resins business unit, where performance again improved, the prices of several products were raised in order to pass on the increase in the price of acrylonitrile. In the first quarter of 2006, The negative development of the Fibers business unit held back the segment's first-quarter earnings.
marketing@alchempro.com
