Lanxess: Earnings Advance in 3rd Quarter of 2006
In the third quarter of 2006, Lanxess increased its operating result before depreciation and amortization (EBITDA) pre exceptionals by 10.8 % to EUR 164 million. According to the company, the year-on-year decline in sales of 4.8 % to EUR 1691 million is due to portfolio changes and negative currency effects, particularly relating to the U.S. dollar. Adjusted for the divestments of the Fibers and Paper business units and the RheinChemie subsidiary iSL-Chemie, along with the adverse shifts in exchange rates, sales rose by 2.1 %.
Net income came in at EUR 36 million, capital expenditures increase by nearly one third to EUR 66 million.
Lanxess continues to expect that the global economic mood will remain positive in the fourth quarter of fiscal 2006. In the light of the positive business trend in the first nine months of 2006, the company continues to anticipate an increase in EBITDA pre exceptionals to between EUR 660 million and EUR 680 million.
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