LEVERKUSEN (dpa-AFX) - Specialty chemicals company Lanxess AG (LNXSF.PK) reported Thursday that its second-quarter net income surged to 798 million euros from last year's 100 million euros.
Earnings per share were 9.24 euros, up from 1.14 euros last year.
Earnings per share from continuing operations adjusted for exceptional items and amortization of intangible assets were 0.86 euro, compared to 1.45 euros a year ago.
EBITDA declined 23.8 percent to 198 million euros from 260 million euros a year ago. EBITDA pre exceptionals dropped 20.3 percent to 224 million euros from 281 million euros.
Sales fell 16.7 percent to 1.44 billion euros from 1.72 billion euros a year ago.
Looking ahead, for fiscal 2020, the company company continues to expect EBITDA pre exceptionals to be between 800 million euros and 900 million euros.
The company noted that after the sharp downturns first in Asia and then in Europe and the Americas, it does not expect the performance of the global economy or of any region to quickly return to the previous year's level.
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