FX.co ★ LANXESS Posts Loss From Cont. Ops. In Q1; Sales Down 15.4%

LANXESS reported a loss from continuing operations totaling 98 million euros in the first quarter, a stark contrast to the profit of 10 million euros recorded in the previous year. Their EBITDA, before exceptional items, stood at 101 million euros, marking a significant decrease of 46.6 percent compared to last year. The key contributors to this downturn are primarily low sales prices and a persistent weak demand across various customer sectors. In the first quarter, sales saw a reduction of 15.4 percent, amounting to 1.61 billion euros.

Looking ahead to the remainder of 2024, the group is forecasting a rise in its EBITDA (before exceptional items) ranging between 10 to 20 percent. Additionally, LANXESS projects a sequential surge in EBITDA (before exceptional items) for the second and third quarters of 2024, while a more muted growth is expected during the fourth quarter. A slight revival in demand is also anticipated for the remaining part of the year.