Strong first quarter at Lanxess
Specialty chemicals group Lanxess AG has reported sales of €1.54 billion for the first quarter of 2008 compared with €1.71 billion in the first quarter of 2007. Adjusted for portfolio and currency effects, sales grew 8.1% year-on-year.
Adjusted Asia Pacific sales climbed 25%, although reported sales were down 6.3 percent year-on-year at €281 million. The region’s share of global sales increased from 17.5% to 18.3% and double-digit growth rates were recorded in India, Japan and China.
Adjusted sales in Germany rose 1.8% although the reported figure fell 9.2% to €373 million compared with €411 million in the prior-year period. Germany’s share of group sales rose slightly from 24% to 24.3%.
In the EMEA region (Europe, Middle East and Africa, excluding Germany), sales rose 5.9%. Growth was driven particularly by the western European markets, with sales rising by a double-digit percentage in Belgium and
single-digit figures in France and Italy. Sales also increased in eastern Europe. However, reported sales fell 6.4% to €552 million compared with €590 million. The region’s share of total sales rose from 34.5% percent in the first quarter of 2007 to 36% in the first three months of 2008.
Adjusted sales in the Americas region grew 5.4% with both North and Latin America posting single-digit growth rates. Reported sales fell by 19.8% to €329 million from €410 million) and the region’s sales share fell from 24% to 21.4%.
Sales in the performance polymers segment rose 5.3% to €693 million compared with €658 million in the first quarter of 2007 and adjusted sales rose by more than 12%. Sales in the advanced intermediates segment rose 7.2% to €329 million compared with €307 million, while sales in the performance chemicals segment dropped 1.2 % to €495 million from €501 million.
