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Lanxess's Quarterly Earnings Soar on Higher Volumes and Selling Prices
4:06 AM MST | November 11, 2010 | Kerri Walsh
Lanxess reported third-quarter net income of €118 million, compared to earnings of €23 million in the year-ago period. Sales jumped 35%, to €1.8 billion because of a 17% rise in sell prices to offset higher raw material costs, a 9% increase in volumes, and favorable currency exchange rates. Ebitda before exceptionals soared 71%, to €244 million, and Ebitda rose 83%, to €238 million. Global economic recovery continued in the third quarter, but at a slower pace than in the first half of the year, Lanxess says. Asia and Latin...
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