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Lanxess reports higher earnings, closes plants until demand picks up

10:02 AM MDT | March 19, 2013 | —Natasha Alperowicz

Lanxess says it has achieved higher earnings in the fourth quarter despite soft underlying demand with Ebitda before one-time items up 37%, to €239 million ($313.7 million). Fourth-quarter sales were flat year-on-year (YOY), at €2.12 billion. Net income increased to €51 million from €5 million a year earlier. Earnings per share grew to €0.62 compared with €0.06 a year earlier. The main factors supporting this result were the company’s cost discipline and flexible asset management, the company says. For the full year, Lanxess...

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