LEVERKUSEN, Germany (Aug. 20, 2008) — Rubber and specialty chemicals manufacturer Lanxess A.G. improved earnings and sales figures for the second quarter over the same period of 2007.
The company increased earnings before interest, taxes, depreciation and amortization by 5.7 percent to about $329.7 million and net income to about $78.4 million. Sales for the quarter rose 2.2 percent to about $2.6 billion.
Through six months of 2008, Lanxess' EBITDA improved by 3 percent to about $655 million and net income for the half-year climbed to about $230.6 million. Sales for the period were slightly less than $4.9 billion, just below the previous year's figure.
Axel C. Heitmann, chairman of Lanxess' board of management, said the company generated very good earnings in the second quarter of 2008 and resolutely maintained its course of profitable expansion. The company is optimally positioned to stand up well in an increasingly difficult market environment, he added.
Heitmann attributed the position to the company's focus on high-performance, innovative products and to the divestment of highly cyclical businesses as part of its systematic portfolio management.