Lanxess Ag (LNXSF.PK), a specialty chemicals company, Thursday reported sales 1.601 billion euros for the first quarter, 0.4% down from last year's 1.607 billion euros, primarily impacted by lower sales prices.
The company posted net loss of 57 million euros for the quarter, lower than 98 million euros loss a year ago.
Excluding one-time items, EBITDA, or earnings before interest, taxes, depreciation, and amortization increased 31.7% to 133 million euros from 101 million euros in the prior year.
Looking ahead to the full year, the company continues to expect EBITDA pre exceptionals between 600 million euros and 650 million euros.
For the second quarter, Lanxess expects earnings to decline year-over-year, mainly because the earnings from Urethane Systems, which has been sold to Japan's UBE Corporation, will no longer be included.
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