Lanxess Slips To Loss In Q4, Dividend Stable; Sees Flat EBITDA Pre Exceptionals In FY23
Specialty chemicals group Lanxess AG (LNXSF.PK) reported Wednesday that its fourth-quarter net loss was 21 million euros, compared to last year’s profit of 29 million euros.
Net loss from continuing operations was 14 million euros, wider than loss of 8 million euros a year ago.
The company noted that lower sales volumes in the final quarter of 2022 had a negative impact on earnings.
EBITDA pre exceptionals grew 1.7 percent to 175 million euros from last year’s 172 million euros. EBITDA margin pre exceptionals was 8.9 percent, down from 10.2 percent a year ago.
Sales for the quarter grew 17.5 percent to 1.97 billion euros from last year’s 1.68 billion euros.
Further, the company said its dividend is expected to remain stable in 2022. The Board of Management and Supervisory Board will propose a dividend of 1.05 euros per share to the Annual Stockholders’ Meeting, which will be held virtually on May 24.
Looking ahead for the first quarter, LANXESS expects EBITDA pre exceptionals of between 180 million euros and 220 million euros.
For 2023, LANXESS expects EBITDA pre exceptionals to be at the level of the previous year’s 930 million euros.
Matthias Zachert, CEO of LANXESS, said, “… 2023 will not be easier. The reduced demand that we already felt in the final quarter of 2022 is currently continuing in the new year. But I am convinced that we will make it through this economic slump thanks to our stable positioning.”
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