ERJ staff report (DS)
Leverkusen, Germany -- In the first six months of 2008, Lanxess AG improved its result (EBITDA) by 3 percent to EUR 443 million (H1 2007: EUR 430 million). The EBITDA margin grew by 0.9 percentage points to 13.4 percent. Net income climbed by EUR 124 million compared to the first half of 2007, to EUR 156 million. Sales came in at EUR 3.3 billion, just below the previous year's figure of EUR 3.4 billion. Adjusted for the sale of the Lustran business and other exceptionals, however, half-year sales rose by 11.1 percent.
EBITDA pre exceptionals for the Performance Polymers segment in the three months to June 2008 improved by 36.6 percent to EUR 127 million (Q2 2007: EUR 93 million), helped by the company's success in passing along raw material price increases to the market in full.
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Press release from Lanxess