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Lanxess reports higher earnings but challenging conditions lead to temporary rubber plant closures in Europe and US

7:45 AM MST | March 8, 2013 | Natasha Alperowicz

Lanxess says it has achieved substantially higher earnings in the fourth quarter of 2012 compared with the same quarter in 2011, despite soft underlying demand. Ebitda pre-exceptionals rose 37%, to €239 million ($313.7 million). Fourth-quarter sales were flat year-on-year (YOY), at €2.12 billion, and net income increased to €51 million from €5 million a year earlier. Earnings per share (EPS) grew to €0.62 compared with €0.06 a year earlier. The main factors supporting this result were the company’s strict cost discipline...

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