Cologne, Germany – Arlanxeo – 50/50 rubber joint venture between Lanxess and Saudi Aramco – has reported a 5.3% drop in sales to €675 million, in the third quarter 2016, according to a Lanxess.
Good demand from the automotive segment in Asia was offset by price decline from raw material costs, the Cologne-based group reported 10 Nov.
Arlanxeo’s earnings (EBITDA pre exceptionals) stood at €91 million, 3.2% lower than the prior-year figure of €94 million.
Lanxess went on to note that higher volumes and improved capacity utilisation counteracted the impact of continuing price pressure at the synthetic rubber JV.
The EBITDA margin pre exceptionals at Arlanxeo improved slightly to 13.5%, compared with 13.2% in the prior-year period.