Q2 sales for LANXESS India around INR 415 cr, up 4%
Q2 sales for LANXESS AG EUR 2.42 billion, up 8.1%
Global Forecast confirmed: EBITDA pre exceptionals expected to grow by 5-10%
Mumbai, August 22, 2012(Sachin Murdeshwar): Specialty ChemicalsGroup LANXESS continued to grow in the second quarter in India as well asglobally. LANXESSin India achieved sales of around INR 415 cr as compared to INR 400 cr,registering a growth of 4% as compared to Q1 2011.
”Amidst a mixed picture in theworld markets, LANXESS India is on the right path and the results delivered aregood. LANXESS continues to remain confident in an increasingly uncertainenvironment and will do whatever possible to counter adversities and meettargets driven by our technical expertise and focused growth on the Asiaregion”, confirmed Joerg Strassburger, Managing Director and CountryRepresentative, LANXESS India.
“Despite volatility in rawmaterial and energy costs, we could sail smoothly as far as the country salesare concerned. The business segment Advanced Industrial Intermediates grew thehighest followed by the Performance chemicals segment. Among PerformancePolymers, the business unit Technical Rubber Products did impressively well”,said Venkatesh Sankaran, Chief Financial Officer, LANXESS India.
LANXESS Global
EBITDA pre exceptionals rose by6.8 percent year-on-year to EUR 362 million. Sales advanced by 8.1 percent toEUR 2.42 billion. Sales improved mainlyas a result of currency effects and selling price increases. Raw material costincreases were fully passed on to the market in all segments. The EBITDA marginpre exceptionals, at 14.9 percent, was level with the previous year.
Sales of LANXESS inAsia-Pacific rose by nearly 24 percent to EUR 608 million, bringing theregion’s share of Group sales to 25 percent.
In the five BRICS countries(Brazil, Russia, India, China and South Africa), sales advanced by more than 14percent year-on-year to EUR 597 million. These countries represented nearly 25percent of Group sales.
Global Outlook
LANXESS continues to anticipatea typically seasonal business pattern for the business year 2012. Consequently,the company expects the EBITDA contributions of the first half of the year inrelation to the second half in a ratio of 60:40. In view of increasing economicchallenges, LANXESS does not expect to see any further momentum in the secondhalf of the year.
“We therefore expect theoperating result in the second half of 2012 to be approximately at the prior-yearlevel,” said Heitmann.
For Europe, LANXESS continuesto predict weak economic development as a result of the euro debt crisis. Thecompany anticipates moderate economic growth in Asia and Latin America. TheU.S. economy will probably continue to expand, though possibly at a slowerpace.
Raw material and energy costsare expected to remain volatile in the second half of the year. LANXESS willstrictly adhere to its price-before-volume strategy.
In addition, LANXESS hassuccessfully launched further strategic investment projects in its growthmarkets in the first half of the year. As a result, the company now expectscapital expenditures of EUR 650 million to EUR 700 million in 2012 incomparison to the EUR 600 million originally planned.
“Our performance is reflectedagainst a very strong previous year and we are on the way to achieving an evenbetter result in 2012 after our strong second quarter,” added Heitmann.
LANXESS is aleading specialty chemicals company with sales of EUR 8.8 billion in 2011 andcurrently around 16,800 employees in 30 countries. The company is currentlyrepresented at 49 production sites worldwide. The core business of LANXESS isthe development, manufacturing and marketing of plastics, rubber, intermediatesand specialty chemicals. LANXESS is a member of the leading sustainabilityindices Dow Jones Sustainability Index (DJSI) World and FTSE4Good.
Forward-Looking Statements.
This news release may contain forward-looking statements based on currentassumptions and forecasts made by LANXESS AG management. Various known andunknown risks, uncertainties and other factors could lead to materialdifferences between the actual future results, financial situation, developmentor performance of the company and the estimates given here. The company assumesno liability whatsoever to update these forward-looking statements or toconform them to future events or developments.
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