- Covestro signs first major renewable energy agreement for its US operations
- Toyochem constructs new pilot facility for high-performance polymers in Japan
- Omya extends lightweight fillers portfolio with the acquisition of Bublon
- USA’s Brightland Homes selects PPG as exclusive paint provider for new home builds
- SABIC and global chemical companies sign agreement with TNO for R&D hub for plastic w...
At the Annual Stockholders‘ Meeting of speciality chemicals company Lanxess, Chairman of the Board of Management Matthias Zachert looked back on fiscal 2014 and presented the first results of the company’s three-phase realignment programme. "In 2014, we made good progress on the way back to success,” he said. The first phase, which focused on improving the competitiveness of the company’s business and administrative structure, has largely been completed.
From the end of 2016, Lanxess will benefit from savings of around €50M/yr.
The company has now initiated first measures associated with the second phase of the programme, targeting the optimisation of its production network.
Despite the difficult business situation, the company improved its operating result in fiscal 2014. While sales declined slightly by 3.5% to around €8bn, EBITDA pre exceptionals increased by 9.9% to €808M. Net income improved by €206M to €47M.
The Board of Management and the Supervisory Board proposed a dividend of €0.50/ share at the Annual Stockholders’ Meeting. This amounts to a total dividend payout of around €46M.
The company got off to a good start in Q1 of the current fiscal year. While sales were stable, compared with the previous year at around €2bn, EBITDA pre exceptionals rose by 11.75% to €229M.
"In 2015, we will set the course for the future of our company. In 2016, we plan to complete our realignment,” Zachert said. "We should then have the ability to return to growth mode, step by step. Our goal is to expand our position in less cyclical businesses.”