Skip to content
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Privacy Policy
  • Follow on Google News
The Medium News

The Medium News

  • Home
  • India
    • National
    • Regional News
  • Business
  • Education
  • LifeStyle
    • Fashion & Beauty
    • Food
    • Health & Fitness
    • Travel
  • Tech
    • Apps News
    • Gadgets
  • Automobiles
  • Sports
  • Entertainment
  • More
    • Agriculture
    • astrology
    • Environment
    • Finance/Money
    • Religion
    • Science
    • Social Work
    • Wow Personality
    • Press Release
  • Toggle search form

LANXESS expects earnings improvement for fiscal year 2024

Posted on March 31, 2024 By The Medium News No Comments on LANXESS expects earnings improvement for fiscal year 2024
  • Net income increases to EUR 443 million due to portfolio measures
  • Initial cost savings generated with “FORWARD!” action plan

Mumbai (Maharashtra) [India]: Specialty chemicals company LANXESS had sales in fiscal year 2023 amounted to EUR 6.714 billion, down 17.0 percent from the previous year’s figure of EUR 8.088 billion. EBITDA pre exceptionals decreased by 44.9 percent to EUR 512 million compared with EUR 930 million the year before. The EBITDA margin pre exceptionals reached 7.6 percent, against 11.5 percent the previous year.

The weaker demand and the associated reduction in sales volumes as well as higher idle costs led to a significant earnings decline, primarily in the Specialty Additives and Advanced Intermediates segments. In addition, lower procurement prices for raw materials and energy in these two segments influenced selling prices. Earnings in the Consumer Protection segment saw only a comparatively moderate decline. The contribution from the Microbial Control business acquired from IFF at the beginning of July 2022 had a positive effect here.

“German chemistry and we at LANXESS have never seen a year of crises like this before. But we are doing all we can to make it through this phase as stably as possible and to be in the best possible position when times improve again. With our “FORWARD!” action plan, we have taken the right steps at an early stage,” says Matthias Zachert, CEO of LANXESS.

2023 was a year of multiple crises for the German chemical industry: Weak demand in numerous customer industries and market regions combined with inventory reduction by customers, high energy prices in Germany, and geopolitical tensions. This also characterized fiscal year 2023 for the specialty chemicals company LANXESS. For the current year, however, the Group expects a moderate increase in earnings.

At EUR 443 million, net income in 2023 was significantly higher than the previous year’s figure of EUR 250 million. This was particularly due to the proceeds that LANXESS received from Advent International as a result of the transaction for the formation of Envalior. At minus EUR 843 million, net income from continuing operations was significantly down from the previous year’s figure of EUR 184 million. The decline resulted primarily from the development of operating earnings and impairment on goodwill from acquisitions.

LANXESS expects the environment to remain challenging, at least in the first half of 2024. The Group consequently foresees no improvement in the first quarter of 2024 compared with the fourth quarter of 2023 and expects EBITDA pre exceptionals of up to EUR 100 million. Starting in the second quarter, LANXESS anticipates a moderate increase in sales volumes. “We assume that the inventory reduction among our customers is complete, with the exception of the agrochemicals sector. In addition, we expect long-term cost savings from our “FORWARD!” action plan,” says Matthias Zachert. For fiscal year 2024 as a whole, LANXESS expects EBITDA pre exceptionals to be moderately higher than the 2023 figure. “However, earnings will still be significantly below the average level of previous years. In 2024, we will therefore continue to work on our positioning and processes and strengthen our financial base,” says Zachert.

Business Tags:LANXESS, Matthias Zachert, Specialty chemicals company

Post navigation

Previous Post: Edvedha: A Remarkable Journey to a 20 Crore INR Valuation in Just 8 Months
Next Post: Mrs. India: The Goddess Pageant Breaking Barriers in Pan India Season 2

More Related Articles

Shaligram Infotech, A Trusted Microsoft Partner In India, Marks 10 Years With Rebranding And Expanded Global Focus Business
Aayoma Home Appliances Pvt. Ltd: Built in India, Trusted Worldwide Business
Trailblazers Honoured at the House of Commons: Asian–UK Business Meet and Awards 2025 Celebrates Global Innovation and Bilateral Leadership Business
EcoEarth is Powering the Smart Home Revolution — Made for India Business
Icons of Leadership & Excellence Awards 2025: A Grand Celebration of Business and Professional Achievements Business
WallStreetMojo Launches Global “Financial Modeling Immersive Program” — Created by ex-JPMorgan Analyst Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories

  • Agriculture
  • Apps News
  • astrology
  • Automobiles
  • Business
  • Education
  • Entertainment
  • Environment
  • Fashion & Beauty
  • Finance/Money
  • Food
  • Gadgets
  • Health & Fitness
  • LifeStyle
  • National
  • Photography
  • Politics
  • Press Release
  • Regional News
  • Religion
  • Science
  • Social Work
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World
  • Wow Personality

Recent Posts

  • Shaligram Infotech, A Trusted Microsoft Partner In India, Marks 10 Years With Rebranding And Expanded Global Focus
  • VRA Health Bridges Healthcare Gaps: From COVID Crisis to Global Telemedicine Success
  • Aayoma Home Appliances Pvt. Ltd: Built in India, Trusted Worldwide
  • Trailblazers Honoured at the House of Commons: Asian–UK Business Meet and Awards 2025 Celebrates Global Innovation and Bilateral Leadership
  • EcoEarth is Powering the Smart Home Revolution — Made for India

Ace Entrepreneur actor artificial intelligence author Bangalore Bengaluru Blockchain technology business Content Creator COVID-19 Cryptocurrency Delhi digital marketing Dr. Sandeep Marwah Dubai education entrepreneur Fairplay Gujarat Gurugram health Hyderabad IIT Delhi Indian Institute of Technology influencer Influencerquipo Kingston Technology K Raheja Corp Homes Lotus Herbals memory products and technology solutions Mumbai Music Industry Nidarshana Gowani Noida photography producer Pune real estate Sakra World Hospital Shan Se Entertainment Shantanu Bhamare Social Activist Social media Surat TTK Prestige

Copyright © 2025 The Medium News.

Powered by PressBook Blog WordPress theme