Lanxess : Cost pass-throughs established, prudence and transparency not yet rewarded, ‘cash-in-type’ action on polyamide segment HPM next trigger
>Sequentially flat is good in Q2, prudence and transparency provided is even better - Prudence and transparency is punished? This is at least what the weak share price reaction told us. We disagree and welcome the visible progress in raw mat/energy cost catch up translated into accelerated pricing but also coming at the expense of around € 500m higher NWC needs including safety cushion, a pattern witnessed across our universe and financed early at attractive 1.75% p....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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