LEVERKUSEN (dpa-AFX) - Specialty chemicals company Lanxess AG (LNXSF.PK) reported Thursday that its net income for the full year 2018 surged to 431 million euros from last year's 87 million euros.
The Group attributed the considerably higher results to the year-on-year improvement in the operating result as well as effects from the sale of the 50 percent stake in ARLANXEO. Moreover, the previous year's net income was reduced by one-off expenses.
EBITDA pre exceptionals for the year increased by 9.8 percent to 1.016 billion euros.
For the full year 2018, the Group's sales rose 10.2 percent year-on-year to 7.197 billion euros.
The Group said its good operating results were driven in particular by the operating strength of the Advanced Intermediates, Specialty Additives and Engineering Materials segments as well as the integration of Chemtura and the phosphorus additives business acquired from Solvay.
Looking ahead, Lanxess said its earnings forecast is at the upper end of the range of 5 - 10 percent above the prior year's figure of 925 million euros, excluding ARLANXEO.
In addition, the Board of Management and Supervisory Board plans to propose a dividend of 0.90 euros per share, an increase of 12.5 percent year-over-year.
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