LANXESS AG - Earnings Release 2023

News Details

Ad-hoc | 19 June 2023 19:32

LANXESS Aktiengesellschaft: Results for Q2 and FY 2023 estimated below market expectations

LANXESS Aktiengesellschaft / Key word(s): Profit Warning

LANXESS Aktiengesellschaft: Results for Q2 and FY 2023 estimated below market expectations

19-Jun-2023 / 19:32 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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

This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person’s officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.

Contact:

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: [email protected]

End of Inside Information

19-Jun-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	LANXESS Aktiengesellschaft
	Kennedyplatz 1
	50569 Cologne
	Germany
Phone:	+49 (0)221 8885-3494
Fax:	+49 (0)221 8885-4944
E-mail:	[email protected]
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