COLOGNE, Germany—Arlanxeo—a 50/50 rubber joint venture between Lanxess and Saudi Aramco—has reported a 5.3 percent drop in sales to $727 million, in the third quarter 2016, according to a Lanxess.
Good demand from the automotive segment in Asia was offset by price decline from raw material costs, the Cologne-based group reported Nov. 10.
Arlanxeo's earnings stood at $98 million, 3.2 percent lower than the prior-year figure of $101.3 million. Lanxess went on to note that higher volumes and improved capacity utilization counteracted the impact of continuing price pressure at the synthetic rubber JV.
The EBITDA margin pre-exceptionals at Arlanxeo improved slightly to 13.5 percent, compared with 13.2 percent in the prior-year period.