Lanxess boosts earnings, despite fall in sales for 2007

ERJ staff report (DS)

Düsseldorf, Germany -- Lanxess AG has reported a 4.8 percent decline in sales for the 12 months to December 2007. The company reported sales down to Euro 6608 million, from 6944 million a year ago. Despite this and sharply higher raw materials prices, the company said profit (EBITDA) increased by 7.5 percent to Euro 719 million from Euro 675 million a year ago. Net income also fell by around 43 percent, to Euro 112 million.

The company no longer reports its rubber activities separately, but Matthias Zachert, CFO, said the Performance Polymers segment increased sales to Euro 2680 million from Euro 2571 million a year earlier. Of this, the cmpanysaid selling prices increased by 3 percent, while volumes increased by 5 percent. Currency effects reduced overall figures by 4 percent.

Zachert said, "The additional production capacity we created in the Butyl Rubber, Polybutadiene Rubber and Semi-Crystalline Products business units was well received by the market."

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Press release from Lanxess