LANXESS

LANXESS expects earnings improvement for fiscal year 2024

LANXESS expects earnings improvement for fiscal year 2024

Net income increases to EUR 443 million due to portfolio measures Initial cost savings generated with “FORWARD!” action plan Mumbai (Maharashtra) [India]: Specialty chemicals company LANXESS had sales in fiscal year 2023 amounted to EUR 6.714 billion, down 17.0 percent from the previous year’s figure of EUR 8.088 billion. EBITDA pre exceptionals decreased by 44.9 percent to EUR 512 million compared with EUR 930 million the year before. The EBITDA margin pre exceptionals reached 7.6 percent, against 11.5 percent the previous year. The weaker demand and the associated reduction in sales volumes as well as higher idle costs led to a significant earnings decline, primarily in the Specialty Additives and Advanced Intermediates…
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Frederique van Baarle appointed new member of the LANXESS Board of Management

Frederique van Baarle appointed new member of the LANXESS Board of Management

Mumbai, (Maharashtra) [India]: Frederique van Baarle is moving up to the Management Board of Cologne-based specialty chemicals company LANXESS. The Supervisory Board has appointed the 51-year-old as Labor Director. She takes over this function from Management Board member Anno Borkowsky. Van Baarle currently heads the High-Performance Materials business unit at LANXESS, which is to be incorporated into a planned joint venture for high-performance plastics with private equity firm Advent. She will take up her new position on the Management Board as soon as this transaction is completed. Van Baarle will also assume board responsibility for the Americas region from the…
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