Lanxess : € 413m goodwill impairment & low- to mid-3-digit € m writedown of Envalior stake, but currently priced out entirely; EBITDA pre 23 seen in-line with css
>€ 413m goodwill impairment on weaker demand in F&F and Polymer Additives, c. 22% of goodwill YE 2022 - FY 2023 accounts of Lanxess will show an impairment of € 413m, i.e. c. 22%, of the € 1.8bn goodwill reported YE 2022. Impairments are linked to Business Units Flavors & Fragrances and Polymer Additives, citing 'demand that has partly developed weaker than expected in the respective Business Units, especially for the years 2023 and 2024.'Low- to mid-3-di...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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