Chemistry, Lanxess made a big win in 2018: 7.2 billion euros, a growth of 10.2%. But the tanning business slows down

A 2018 (in general) to be remembered, but during which “destination leather” showed signs of slowing down. Lanxess, leader group in the chemical sector and manufacturer (also) of auxiliaries for the tanning sector, in 2018 recorded sales of 7.2 billion euro, up 10.2% compared to the 6.5 billion registered in the last year. Profit experienced a real boom, rising from 87 million euros to 431, due – as the group explains – to the annual improvement in the operating result and to the effects of the sale of the 50% stake in Arlanxeo. Previous year’s net profit was reduced by one-time expenses”. Since the sale of Arlanxeo, which passed completely into the hands of partner Saudi Aramco, Lanxess has made 1.4 billion euros. Almost all segments recorded good results, with the exception of Performance Chemicals where sales and operating results “were lower than those of the previous year, in particular due to weak growth in the tanning and construction sector”: sales fell by 6.3% from 1.44 billion to 1.35. With the new year, “despite the weakening of the economy”, Lanxess announced very positive first results. “We expect pre-exceptionals Ebitda for the year 2019 to be around the level of the previous year”, the company explains, although the earnings forecast will be announced next May with the presentation of quarterly results.

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