Lanxess : Q4 EBITDA pre in line, record OpFCF 23; 'moderately higher EBITDA 24' (css +23% y-o-y) and 'Q1 24=Q4 23' around € 100m (css € 141m) disappoints
>Q4 EBITDA pre of € 97m in line with consensus of € 95m, record OpFCF 23 - Group sales declined by 27% y-o-y to € 1,436m (consensus € 1,595m) including a volume decline of 12% y-o-y (Q3 23: -14% y-oy). EBITDA pre of € 97m was in line with the consensus of € 95m (ODDO BHF € 105m) and down 45% y-o-y, as the focus was on inventory management. It was also down seasonally q-o-q (Q3 23: € 119m). Advanced Intermediates saw € 24m vs € 30m in Q3 23 and Specialty Additives € 41...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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