Mixed 3Q Results For Lanxess
No-moat Lanxess reported third-quarter EBITDA of EUR 277 million, up 1.5% from the year-ago period. This was in line with consensus but slightly below our expectations due to a poor result in performance chemicals. The company highlighted similar trends we have seen reported by peers this quarter, including a visibly tougher environment in automotive and more-moderate demand in construction. Management confirmed guidance for EBITDA growth of 5%-10% in 2018. We don’t expect to make a material cha...Lanxess is a management holding company, engaged in chemicals enterprise with a portfolio ranging from polymers to industrial, specialty and fine chemicals. Co. has three segments, which comprise 14 business units. Co.'s Performance Polymers segments include five units, Butyl Rubber, Performance Butadiene Rubbers, Keltan Elastomers, High Performance Elastomers, and High Performance Materials. Advanced Intermediates segments include two units, Advanced Industrial Intermediates, and Saltigo. Performance Chemicals segments, include seven units, Material Protection Products, Inorganic Pigments, Functional Chemicals, Leather, Rhein Chemie, Rubber Chemicals, and Liquid Purification Technologies.
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