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Higher Selling Prices Boost Lanxess's First-Quarter Results

5:24 AM MDT | May 9, 2012 | Ian Young

Lanxess posted a 16% increase in first-quarter 2012 net profits compared with the same period of last year, to €193 million on sales up 15%, to €2.4 billion. Earnings per share also rose 16%, to €2.32. Sales were boosted by a 9% increase in selling prices, which fully offset rising raw material costs, Lanxess says. Results were also buoyed by the acquisition of DSM's ethylene propylene diene monomer (EPDM) rubber business and positive currency effects. Volumes declined 3%, however, compared with a "very strong" first quarter of 2011...

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