Cologne, Germany – Sales at Lanxess fell by 11% to €1.8bn in the second quarter of 2023, down from €2.0bn in the same quarter last year. EBITDA pre-exceptionals was down by 58% year-on-year in the quarter, falling from €253m to €107m.
The results were, once again, dominated by weak demand globally in many customer industries, it said. Other negative impacts included ongoing inventory reduction among customers, and lower selling prices.
It confirmed the provisional guidance released in June. It lowered predicted pre-exceptionals EBITDA for the full year to between €600m and €650m, a significant drop from the early guidance of €850m to €950m.