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Lanxess sees emerging markets boosting 2012 profits

* Says had promising start to 2012

* Sees Q1 adj EBITDA at 330-350 million euros

* To provide detailed outlook with Q1 results on May 9

* Q4 adj EBITDA up 1.2 percent, exceeds consensus

* Shares jump 9.5 percent

FRANKFURT, March 22 (Reuters) - Germany's Lanxess, the world's largest maker of synthetic rubber, said it expects demand from emerging markets to drive growth this year after strong sales in Latin America pushed its 2011 results above expectations.

"Following last year's record earnings, Lanxess got off to a promising start in 2012," the company said in a statement on Thursday.

Its shares jumped in early trade and were up 9.5 percent at 61.60 euros by 0828 GMT, while Germany's mid-cap index was 0.3 percent lower.

Lanxess did not provide a specific target for 2012 earnings but said it sees first-quarter earnings before interest, tax, depreciation and amortisation (EBITDA), adjusted for special items, at 330-350 million euros ($435-462 million).

"This is extremely strong in our view and would be above what we regard as an already strong previous year figure of 322 million euros," WestLB analyst Michael Gorny said.

Analysts on average see adjusted EBITDA for the full year 2012 easing to 1.09 billion euros from 1.15 billion in 2011.

In the fourth quarter of 2011, the figure edged 1.2 percent higher to 174 million euros, exceeding the 166 million euros expected on average in a Reuters poll of 11 analysts.

Lanxess, which competes with Exxon Mobil in the rubber market, said last month it had a good start to 2012 and does not expect demand to drop off, as customers replenish inventories.

It said on Thursday it would provide a more detailed outlook when it publishes first-quarter results on May 9.

 

Reuters