People & Business :: Earnings/Finance
Lanxess expects large losses, announces fourth-quarter impairment charges
11:55 AM MST | February 26, 2014 | Natasha Alperowicz
Lanxess said today that it expects to record a net loss of €204 million ($280.2 million) for the fourth quarter of 2013 compared with a net income of €50 million in the year-earlier quarter, according to preliminary and unaudited numbers. The company expects a 5.1% reduction in fourth-quarter sales, to €2.01 billion. Ebitda pre-exceptionals is down 26.4%, to €176 million, with Ebitda margin down to 8.7% compared with 11.3% in the fourth quarter of 2012. Full-year 2013 net loss is expected to total €159 million compared with a net...
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