LANXESS posted 4.4% increase in sales to approximately EUR 1.79 billion in the third quarter(July-September) of 2018, as against EUR 1.71 billion in the year-ago quarter. Net income from continuing operations increased sharply to EUR 80 million after EUR 55 million in the prior year.
The company attributes the increased earnings to higher selling prices, synergies from the Chemtura acquisition and the contribution from the US phosphorus additives business, which was acquired from Solvay.
Sales in the Advanced Intermediates segment were EUR 534 million in the third quarter of 2018, 11.0 % higher than the figure for the prior-year quarter of EUR 481 million. In the Specialty Additives segment, sales advanced by 4.6 % to EUR 502 million(EUR 480 million).
In the Performance Chemicals segment, sales decreased by 8.5 to EUR 334 million (EUR 365 million) while in the Engineering Materials segment, sales grew by 12.6 to EUR 394 million (EUR 350 million).