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Despite good business with the automotive industry: Lanxess is becoming a little more cautious

The chemical company Lanxess is a little more cautious for the current year due to high energy and freight costs. CEO Matthias Zachert now calculates operating profit (adjusted Ebitda) for 2021 at the lower end of the target range of 1.00 to 1.05 billion euros, which was raised in the summer. Analysts have so far put a value in the middle of the range on the list. “Our operating business has continued to develop positively and we have successfully passed on the sharp rise in raw material costs,” said Zachert, according to a statement on Thursday with a view to the third quarter. “The unprecedented rise in energy, raw material and freight costs is not leaving us behind either. We assume that the cost pressure will increase again in the fourth quarter.”

In the third quarter just ended, Lanxess increased its operating profit by 44 percent to 278 million euros thanks to good business with the automotive industry, but also with materials related to material protection, disinfectants and water treatment. The takeover of Emerald Kalama Chemical has also paid off. The bottom line was, at 74 million euros, almost three times as much as a year ago. Sales rose by a third to 1.95 billion euros. (dpa / swi)

Also read:

Chemical group: Lanxess raises annual forecast

Batteries for e-cars: Lanxess is making progress on lithium project

“Positive momentum has continued”: Lanxess is becoming more confident thanks to the auto business

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Lenny Li

I started to play with tech since middle school. Smart phones, laptops and gadgets are all about my life. Besides, I am also a big fan of Star War. May the force be with you!

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