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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.

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