logo
Plus   Neg
Share
Email

Lanxess Slips To Loss In Q4; Sees Operationally Stable In 2020

Specialty chemicals company Lanxess AG (LNXSF.PK) reported that its fourth-quarter net loss was 48 million euros, compared to net income of 99 million euros in the prior year.

EBITDA pre exceptionals was 197 million euros, up from 175 million euros in the previous year.

Quarterly sales declined 2.3 percent to 1.64 billion euros from 1.67 billion euros in the previous year.

The company said its Management and Supervisory Boards will propose a dividend of 0.95 euros per share to the Annual Stockholders' Meeting on May 13, 2020. The dividend is to be increased again.

For the first quarter of 2020, the specialty chemicals company currently anticipates charges of around 20 million euros from the coronavirus epidemic.

Lanxess expects its operating business to remain stable in fiscal 2020. However, the company expects the effects of the coronavirus epidemic to impact the operating result by between 50 million euros and 100 million euros for the year as a whole.

The company expects EBITDA pre exceptionals to be between 900 million euros and 1.0 billion euros for 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apotex Corp. recalled all lots of type 2 diabetes medication Metformin hydrochloride in the form of oral film-coated tablets for the potential presence of nitrosamine impurity, N-Nitrosodimethylamine (NDMA), above levels of the Acceptable Daily Intake Limit (ADI), the U.S. Food and Drug Administration or FDA said in a statement. Groupe Renault plans to cut about 14,600 jobs across the world and lower its production capacity. The plan includes almost 4,600 jobs reduction in France, through voluntary retirement and retraining. Amazon said it will convert 125,000 of the 175,000 temporary workers it hired in March amid the coronavirus pandemic, to permanent full-time employees in June. The e-commerce giant had hired the temporary employees in March to meet strong consumer demand amid the lockdown. The job openings were in Amazon's fulfillment centers and its delivery network.
Follow RTT