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Lanxess's Earnings Rise on Higher Volumes and Selling Prices
3:52 AM MDT | May 11, 2011 | Kerri Walsh
Lanxess reported first-quarter 2011 net income up 60%, to €166 million ($239 million), on sales up 29%, to €2.1 billion. Volumes rose 12%, while selling prices jumped 15%. The company expects full-year 2011 Ebitda before special items to reach the €1-billion mark because of a strong start to the quarter. “The jump in earnings clearly shows that our ambitious growth strategy is paying off,” says CEO Axel Heitmann. “We have once again outperformed the market due to our premium product portfolio and focus on megatrends...
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