Lanxess celebrates its okay performance for the quarter while the market is weak: but chrome isn’t selling well

Lanxess’ sales in the first quarter were worth 1.8 billion, stable on the year 2018. But the industrial chemicals’ giant sees the flat performance as a reason to celebrate: because the market today, in comparison to that of a year ago, is going through “a weak phase”. The German group, moreover, has scored a positive margin in the quarter going from January to March (“thanks to the price levels and favorable exchange rate with the USD”): ebitda was 15.1%, while net profit was 3.7%. Meanwhile, bad news arrives from the Performance Chemicals’ segment of the business, which is active in the tanning industry but hasn’t been performing well. The division usually generates revenue for 347 million and registers a positive performance of +3.3%. The results were pushed by products for water treatment and material coverings. On the other hand, the Leather Business Unit has experienced “weak demand” for chromium.

 

 

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