Third-Quarter Sales Increase but Earnings Are Mixed

Late-reporting European chemical makers posted substantial increases in third-quarter 2011 sales compared with the corresponding period of 2010, boosted by price increases and higher volumes. Earnings results were mixed, however, partly reflecting higher raw material costs and acquisitions. Lanxess reported a 31% increase in third-quarter net profits, to €154 million ($207.7 million) on sales 26% higher, at €2.3 billion compared with the year-earlier period. Earnings per share were 30.3% higher at €1.85. Group Ebitda margins were flat at 13.3%. This is...

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