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

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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