Raw Material Prices, Pharma Restructuring Dent Lanxess's Fourth-Quarter Earnings

Lanxess reported an 81% drop in net income for the fourth quarter of 2011, to €5 million compared with the corresponding period of 2010 on sales up 16%, to €2.1 billion. Ebitda before exceptional items edged up 1% year on year in the fourth quarter, to €174 million but Ebitda margins before exceptionals slipped to 8.2% from 9.4% one year earlier. Earnings per share also tumbled in the fourth quarter by 81%, to €0.06/share. The net earnings figure includes €20 million in exceptional charges for a realignment of the pharma business of...

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