Lanxess' performance is flat in H1 2019

Cologne, Germany — Lanxess sales of EUR 3.6bn the first half of 2019 were almost identical to the first half of 2018. EBITDA before exceptional items was unchanged period to period.

Adjusted EBITDA hit EUR 561m in the first half of 2019.

A weaker Euro compared to other currencies almost offset the effects of lower sales volumes on the headline number. Higher selling prices helped the business.

Lower sales volumes in the Specialty Additives and Engineering Materials segment hit the pre-exceptionals EBITDA number, said the company.

The company's engineering materials business sales subsided by 5.56% between the first half of 2018 and 2019. They were EUR 747m in the first half of 2019. This compares with EUR 791m the first half 2018.

Prices were up slightly in the polyurethane elastomers business. The company also bundles its high-performance materials into this division. High performance materials had a tougher time in the half than polyurethane elastomers.

At the same time, Adjusted EBITDA in the division declined by 15.58%. It hit EUR 130m the first half of 2019. This compares with EUR 154m the 2018 period.

Earnings in the division were hit by lower volumes sold to the automotive industry and the strength of the dollar.

Looking across the company once again, Matthias Zachert, chairman said: 'We have reduced our dependence on individual volatile industries and further balanced our regional positioning. We are sticking to our forecast for 2019, which we issued in May.'

He said that this was 'despite the increasingly gloomy economy.'