Lanxess Confirms Full-Year Guidance; Second-Quarter Net Income Down Slightly on Higher Sales

Lanxess today reported a slight drop in second-quarter net income with sales advancing by 8.1% and confirmed its 2012 forecast after a reportedly strong second quarter. Net income was down 3%, to €176 million ($218.2 million), with sales rising to €2.42 billion, mostly as a result of currency effects and higher selling prices. Net income was down due to reorganization measures in the performance chemicals business. Ebitda pre-exceptionals rose 6.8% year-on-year (YOY), to €362 million. Earnings per share, at €2.11, declined 2.8%. “We...

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