LANXESS announced a 14% decrease in revenue over the same period in 2019

Specialized chemical company LANXESS has just updated its business results in 2020 and predicts EBITDA income will reach 820-880 million EUR.

Mr. Matthias Zachert, Chairman of the Board of Directors of LANXESS AG

Mr. Matthias Zachert, Chairman of the Board of Directors of LANXESS AG said: “We continue to operate stably during the difficult times due to the impact of the epidemic, and have updated our financial forecast for fiscal year 2020. We want to fulfill the commitment we made earlier this spring. In the context of a volatile and volatile market, this is a great achievement for the entire LANXESS staff and I am very proud of this.

COVID-19 pandemic continued to affect LANXESS business results in Q3 / 2020. EBITDA income before the exception was only 193 million EUR, down 28.3% over the same period last year (269 million EUR). EBITDA earnings before the exception fell to 13.2%, compared with the 15.8% recorded in the previous quarter. In addition to the disease impact, the closure to warrant a Belgian factory, as well as the price drop and the negative impact of exchange rates, especially against the US dollar, have had a negative impact on general business results. However, the Consumer Protection segment continued to grow positively, and also had more positive signals from the market compared to the previous quarter.

“We have seen positive signs in many segments of the business. Demand from key consumer goods sectors, including the automotive sector, increased again compared to the second quarter of 2020. In particular, China and the US are having very positive stimulus policies ”, Mr. Zachert added.

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