Lanxess : Meeting CEO/CFO: >€ 1bn EBITDA potential in 'normal' conditions; bridge to € 700m EBITDA 2024 excluding volume recovery meets consensus
>Management sees >€ 1bn EBITDA potential when back to 'normal' - We joined a sell-side meeting with CEO and CFO of Lanxess, reiterating earlier statements that poor global plant utilisation of around 55% (vs 70% in already challenging 2022) was one of the major headwinds in 2023, when Lanxess guides for EBITDA pre of € 500-550m (cons €530m).2024 outlook +180m EBITDA bridge items before any volume recovery reiterated, in line with current consensus: - ...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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