* Q3 adj EBITDA 255 mln eur, in line with avg poll
* Expects car sector in Europe to remain weak
* Sees slower growth in North America and China
FRANKFURT, Nov 6 Lanxess, the world's
largest synthetic-rubber maker, expects full-year operating
earnings to come in at the lower end of its outlook range, as it
is hit by a decline in the European car industry.
"For the fourth quarter Lanxess expects the automotive
sector in Europe to remain weak, while growth in North America
and China will continue, albeit at a slower rate," the German
company said on Tuesday.
The group, a September entrant to Germany's blue-chip index
DAX, now expects growth in adjusted 2012 earnings
before interest, taxes, depreciation and amortisation (EBITDA)
to be at the lower end of a previous guidance range of 5-10
Lanxess, whose former parent Bayer invented
synthetic rubber, is investing heavily to tap long-term growth
in Asia and Latin America but Europe remains its largest market.
The shares were indicated down 0.3 percent in premarket
trades while the DAX was seen 0.3 percent higher.
The western European auto market in October maintained its
sharp descent towards levels last seen nearly 20 years ago as
consumers worried about unemployment shunned car dealerships.
Lanxess, a competitor of Exxon Mobil in the
synthetic rubber market, derives about a quarter of its sales
from tyre makers and about a further 15 percent from other
Speculation that the group's outlook may be losing its
footing emerged last month. But Lanxess responded by confirming
its full-year earnings outlook at the time.
Key customers have been feeling the pinch from weakening car
demand. Goodyear, the largest U.S. tyre maker, said
third-quarter profit fell on lower sales in all its key markets,
Lanxess' third-quarter adjusted EBITDA fell 18 percent to
255 million euros ($326 million), broadly in line with the
average estimate in a Reuters poll of 11 analysts.
At 2.16 billion euros, quarterly sales came in 4 percent
below market projections.