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People & Business :: Earnings/Finance
Lanxess outlines realignment as earnings improve, narrows guidance
7:58 AM MDT | August 6, 2014 | Natasha Alperowicz
Lanxess today announced its second-quarter results and detailed a previously announced restructuring program. Second-quarter net income rose to €55.0 million ($73.5 million) from €9.0 million in the year-earlier quarter. Ebitda pre-exceptionals was up 20.7%, to €239.0 million, and Ebitda margin pre-exceptionals rose to 11.8% from 9.2% in the second quarter of 2013. Sales were down 5.7%, to €2.02 billion. The company reports volume gains in all regions except Latin America. Volumes increased by 2% but did not offset the 5% decline in prices...
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