LANXESS raises guidance for 2015 following a strong second quarter
Net income increased substantially by some 58 percent to EUR 87 million
Following a strong second quarter, LANXESS again raised its guidance for the full year 2015. The company now expects to achieve EBITDA pre exceptionals within a corridor of EUR 840 million and EUR 880 million. It had previously assumed that EBITDA pre exceptionals for the full year would come in at between EUR 820 million and EUR 860 million.
Sales improved by 4.3 percent in the second quarter of 2015 to EUR 2.1 billion, compared with EUR 2.0 billion in the prior-year quarter. Higher volumes and positive currency effects more than offset the raw material induced lower selling prices. EBITDA pre exceptionals increased by 13 percent from EUR 239 million to EUR 270 million. This development was driven by increased volumes, savings generated by the realignment, and positive currency effects due to the strong U.S. dollar.
Net income improved by a substantial 58.2 percent to EUR 87 million from EUR 55 million a year earlier. Operational development and proceeds from the sale of noncurrent assets contributed to this increase.
Capital expenditures significantly reduced
Following the completion of major projects in Asia, capital expenditures declined by more than half in the second quarter against the prior-year quarter from EUR 154 million to EUR 73 million.
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