Specialty chemicals company

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…