Global specialty chemicals company LANXESS posted 25 % increase in global sales to EUR 2.4 billion in the first quarter(January-March) of 2017, up from EUR 1.9 billion a year earlier. Net income rose by a substantial 47 % to EUR 78 million, against EUR 53 million in the year-earlier quarter. EBITDA pre exceptionals also improved by 25 % to EUR 328 million, compared with EUR 262 million in the first quarter of 2016.
However, for the year 2016, the company’s sales declined slightly, from EUR 7.9 billion in 2015 to EUR 7.7 billion, which the company attributes to the adjustment in selling prices to reflect lower raw material costs. EBITDA pre exceptionals rose by 12.4 % to EUR 995 million in 2016, compared with EUR 885 million a year earlier.
The Board of Management has proposed a dividend of EUR 0.70 for the year, an increase of 17 % against the previous year.