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Lanxess sees FY adj profit at lower end of target range
November 6, 2012 / 6:46 AM / 5 years ago

Lanxess sees FY adj profit at lower end of target range

FRANKFURT, Nov 6 (Reuters) - Lanxess, the world’s largest maker of synthetic rubber, said its full-year operating earnings would come in at the lower end of its previous outlook range, as it is hit by the 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.

Lanxess said it expects growth in 2012 earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, to be at the lower and of a previous guidance range of 5-10 percent. (Reporting by Ludwig Burger)

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