LANXESS Announces Strong Q2 2024 EBITDA Pre Exceptionals

Specialty chemicals company LANXESS Aktiengesellschaft has announced that its EBITDA pre exceptionals for the second quarter of 2024 significantly surpassed market expectations. The preliminary figure stands at EUR 181 million, exceeding the average market forecast of EUR 137 million by 32% and last year's figure of EUR 107 million by 69%.

The notable increase in EBITDA was attributed to higher utilization rates following a major inventory reduction in 2023 and the successful execution of a cost-saving program. There was also a slight increase in sales volumes in some customer industries, despite ongoing weak demand in the agro-chemical and construction sectors.

Looking ahead, LANXESS maintains its full-year EBITDA pre guidance, projecting growth between 10% and 20% compared to the previous year. The company also anticipates that the EBITDA pre for the third quarter of 2024 will be close to or surpass the second quarter’s results.

LANXESS is scheduled to release its comprehensive results for the second quarter on August 9, 2024.