Lanxess releases financial results for 2017
Special chemical producer Lanxess released Mar. 22 the financial results for 2017.
The company's sales revenue rose 25.5% to 9.66 billion euros (about 75.4 billion yuan) in fiscal 2017; and the profit surged 29.6% to 1.29 billion euros (about 10.1 billion yuan), reaching historical highs.
The robust growth in revenue has been attributed to greater sales of all business units and the newly purchased Chemtura.
Lanxess invested about 550 million euros in global factory network last year, including about 235 million euros in German production base.
Meanwhile, it continued expanding business deployment and sales channels in North America and Asia.
Lanxess Greater China's sales revenue grew nearly 30% in fiscal 2017, accounting for 13% of its global sales revenue.
In addition, Arlanxeo's sales revenue reached 3.23 billion euros, up 19.2%; and the profit was 385 million euros, up 3.2%.
Lanxess expects the profit in 2018 will be slightly higher than that in 2017.
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