LANXESS shows stable business development in the first quarter of 2019 despite economic downturn

Speciality chemicals company LANXESS has made a solid start to the new fiscal year despite the weakening economy.

In the first quarter of 2019, EBITDA pre-exceptionals rose by 1.9 per cent to €275 million, compared with €270 million in the strong previous year quarter.

The main reasons for the positive development were higher selling prices and advantageous exchange-rate effect, particularly from the US dollar.

The EBITDA margin pre-exceptionals improved from 14.9 per cent in the previous year to 15.1 per cent, while group sales in the first quarter amounted to €1.822 billion, on a par with the previous year’s level.

Matthias Zachert, Chairman of the Board of Management of LANXESS, said: “Despite the weaker trading environment, we have made a good start to the new fiscal year.”

“Our results are further proof that we are on a much more stable footing than a few years ago, as we have more than made up for the declining demand from the automotive industry, and increased our profitability once again, even compared with the strong previous-year quarter.”