19.06.2023 19:32:40
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EQS-Adhoc: LANXESS Aktiengesellschaft: Results for Q2 and FY 2023 estimated below market expectations
EQS-Ad-hoc: LANXESS Aktiengesellschaft / Key word(s): Profit Warning
Ad hoc according to Art. 17 paragraph 1 MMVO
LANXESS: Results for Q2 and FY 2023 estimated below market expectations Specialty chemicals company LANXESS expects second quarter 2023 EBITDA pre exceptionals to remain below average market expectations. Therefore, the company adjusts the outlook for FY 2023 downward as well. EBITDA pre exceptionals for the second quarter 2023 is expected to amount to around EUR 100 million which is below current average market expectations. Generally very weak demand combined with continued customer de-stocking effects already seen in the first quarter lasted into the second quarter and are ongoing. Especially demand weakness in the construction industry, electro/electronics and even from usually stable consumer related products, burden utilization and earnings. A recovery within the month of June is not visible. LANXESS had formerly expected Q2 2023 EBITDA pre exceptionals roughly on par with Q1 results and a FY 2023 EBITDA pre exceptionals between EUR 850-950 million. LANXESS now expects the weakness to continue in the second half of 2023. Hence, the company also adjusts its full-year expectations. Should trading not pick up, LANXESS now expects a profitability level of EUR 600 to 650 million EBITDA pre exceptionals for FY 2023. LANXESS will release its results for the second quarter 2023 on August 4, 2023. Cologne, 19 June 2023 Forward-Looking Statements Eva Frerker LANXESS AG Head of Investor Relations Kennedyplatz 1 50569 Köln, Deutschland Telefon: +49 221 8885-5249 Fax: +49 221 8885-4944 E-Mail: eva.frerker@lanxess.com End of Inside Information
19-Jun-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | LANXESS Aktiengesellschaft |
Kennedyplatz 1 | |
50569 Cologne | |
Germany | |
Phone: | +49 (0)221 8885-3494 |
Fax: | +49 (0)221 8885-4944 |
E-mail: | ir@lanxess.com |
Internet: | www.lanxess.com |
ISIN: | DE0005470405 |
WKN: | 547040 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1660673 |
End of Announcement | EQS News Service |
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1660673 19-Jun-2023 CET/CEST
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