ERJ staff report (DS)
Leverkusen - Lanxess will exceed earnings (EBITDA) of euro 1000 million in 2011 after achieving its best-ever quarterly result in the first quarter. EBITDA pre exceptionals rose 38 percent year-on-year to EUR 322 million, with all segments and regions achieving double-digit growth.
Sales of the Performance Polymers segment rose 35 percent year-on-year to EUR 1.1 billion and EBITDA pre exceptionals jumped 52 percent year-on-year to EUR 199 million in the first quarter. All businesses profited from strong demand in their customer industries and were able to pass on rising raw material costs. Butyl Rubber and Performance Butadiene Rubbers benefited from their exposure to the booming tyre industry.
Lanxess said it will stick to its price-before-volume strategy in the face of rising raw material and energy costs in the second quarter.
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Press release from Lanxess