Leverkusen, Germany - Lanxess AG has reported an improvement in performance for the eleventh consecutive quarter.
For the company as a whole, EBITDA rose 6.7 percent in the third quarter of 2007 to €175 million (Q3 2006: €164 million). The EBITDA margin was 10.3 percent, up from 9.7Â percent a year earlier, the first time it has ever been in double-digit territory at the start of the traditionally weaker second half. The operating result (EBIT) climbed by 22.4 percent to €104 million (Q3 2006: €85 million), and Group net income more than doubled in the period July through September 2007 from €36 million to €75 million.
Following a reorganisation, Lanxess does not split out its rubber activities, but the company said business in the Performance Polymers segment developed well, with sales advancing 3.6 percent to €667 million (Q3 2006: €644 million). Higher prices and volumes in nearly all business units contributed to this performance. The butyl rubber business unit did particularly well, posting an above-average rise in volumes in the third quarter. Overall, this segment's EBITDA pre exceptionals improved by 21.8 percent to €95 million (Q3 2006: €78 million) thanks to positive trend in all business units. The EBITDA margin pre exceptionals moved ahead by 2.1 percentage points to €14.2 percent.
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Press release from Lanxess