LANXESS raises guidance for fiscal year 2021
Q1 2021 marked by strategic growth
LANXESS
").addClass("image-details");
var $imageCaption = $("").addClass("image-caption").text(caption);
$imageDetails.append($imageCaption);
element = $("
").append('×').append($imageHolder).append($imageDetails)[0];
img.draggable = false;
if (title) {
element.title = title;
}
if (altText) {
element.alt = altText;
}
$(img).on("load error", callbackWrapper);
img.src = url;
return element;
}
LANXESS is raising its guidance for the full year 2021 following a good first quarter: The specialty chemicals company now expects EBITDA pre exceptionals of between EUR 950 million and EUR 1 billion. Previously, the company had assumed earnings of between EUR 900 million and EUR 1 billion.
At EUR 242 million, EBITDA pre exceptionals in the first quarter came in at the good level of the prior-year quarter (EUR 245 million), which had not yet been significantly affected by the Coronavirus pandemic. Group-wide, volumes in the first quarter of 2021 were above the prior-year level. Growing demand from the automotive sector was a key driver, particularly in the Engineering Materials segment. This was offset by the effects of weather-related production shutdowns in the United States in the Advanced Intermediates, Specialty Additives and Consumer Protection segments. Moreover, negative exchange rate effects, particularly from the US dollar, and significantly higher energy costs, especially in Germany, had a negative impact.