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Chemicals group Lanxess sees 2021 profits at lower end of forecast -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Lanxess logo is seen near dark clouds at Cologne Bonn Airport on March 27, 2015. REUTERS/Wolfgang Rattay

(Reuters] – German specialist chemicals company Lanxess has stated that its 2021 core profit will be at the lower end in its guidance range. It said Thursday that increased freight, energy and raw material prices could cause the total to rise further during the fourth quarter.

The Cologne-based group reported underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of 278 million euros for the July-September period, slightly above analysts’ average estimate of 276 million euros ($319.72 million) in a company-provided poll.

The previous forecasts of the group were for full-year adjusted EBITDA between 1 and 1.05 billion euros.

($1 = 0.8633 euros)

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