LEVERKUSEN, Germany (May 19) — Lanxess A.G. reported improved earnings and sales in the first quarter on better sales performances at all four business units.
Operating income improved 7.8 percent to $150.6 million on 6.2-percent higher sales of $2.21 billion. Net income rose 17.8 percent to $98.8 million.
The Performance Rubber sector reported a 26-percent increase in operating profit to $85.5 million on 11.7-percent higher sales of $527.7 million. Despite higher revenues, volumes fell 6.1 percent.
Lanxess said it is maintaining its price-before-volume strategy, and it recorded a price-related sales growth of 12.7 percent. The balance came from currency effects.