FRANKFURT Dec 21 Lanxess, the world's
largest maker of synthetic rubber, expects earnings to rise
again in 2014, helped by a cost-cutting programme, its chief
executive was quoted saying in an interview.
"Since we have many ideas and projects, I'll keep my
confidence for next year," Axel Heitmann was quoted by newspaper
Frankfurter Allgemeine Sonntagszeitung as saying. "Even if
prices remain at low levels we will improve earnings."
Lanxess, which also makes durable plastics, leather
chemicals and ingredients for pesticides, said in November it
expected core earnings (EBITDA) excluding one-off items of
between 710 million euros ($970.6 million) and 760 million for
the current year, down from 1.23 billion in 2012.
In an excerpt of the interview with the Sunday newspaper
made available to Reuters on Saturday, Heitmann noted this
year's expected downturn came against a weak sector backdrop.
"That's not bad given the current situation. The flow of
negative news shows no sign of abating after all," the CEO said.
German chemicals trade group VCI earlier this month forecast
revenue growth at its member businesses would rise to 1.5
percent next year, citing a slowly improving mood among European
($1 = 0.7315 euros)
(Reporting by Ludwig Burger; Editing by David Holmes)