Lanxess discontinues financial reporting on Arlanxeo

Cologne, Germany – Lanxess AG has, for the first time, reported financial results without giving details about the business performance of Arlanxeo.

Since 1 April, the business activities of the 50:50 synthetic rubber JV with Saudi Aramco  have been run as a discontinued operation.

Lanxess' first-half financial statement, issued 2 Aug, therefore did not include earnings and other key data from Arlanxeo as it is “no longer actively managed by the senior management level.”

In the second quarter of 2018, Lanxess global sales increased by 6.8% to €1.83 billion against €1.71 billion in the prior-year quarter. Earnings (EBITDA pre exceptionals) improved by 3.6% to €290 million compared with €280 million in the prior-year quarter.

The group expects an increase of the operating result at the upper end of the guidance of 5-10% that was presented in May. In the previous year, comparable earnings was €925 million.

The positive overall earnings performance was mainly driven by the contribution of the former Chemtura businesses