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Lanxess Reports First-Quarter Loss
12:19 AM MDT | May 7, 2009 | Deepti Ramesh
Lanxess has recorded a net loss of €14 million ($19 million) for the first quarter of 2009, compared with a net profit of €104 million in the first quarter of 2008. Sales decreased by 31%, to €1.05 billion. Ebitda fell 70%, to €66 million. “All business units were impacted by the global recession,” says Axel C. Heitmann, Chairman of the Lanxess board. “The drop in demand of more than 35% reached historic proportions. But by immediately launching our extensive ‘Challenge09’ package of global measures, we succeeded...
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