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Lanxess AG lowers FY 2013 guidance below analysts' estimates; Issues FY 2014 guidance; Proposes 0.50 euro dividend for FY 2013

Wednesday, 26 Feb 2014 04:38am EST 

Lanxess AG:Announces that it has undergone impairment tests, according to IAS 36, that result in exceptional charges of 257 million euros in the fourth quarter of 2013, affecting EBIT and net income in 2013.The full-year net loss for 2013 is expected to be 159 million euros, the 2013 full-year EPS is expected to be negative at -1.91 euros, EBITDA pre exceptionals is not subject to the impairment charges and is expected to be 735 million euros for full 2013.FY 2013 net profit of 108.27 million euros, EPS 1.33 euro, EBITDA 710.34 million euros - Thomson Reuters I/B/E/S.For the current year, it expects a slightly improved EBITDA pre exceptionals due alone to the absence of one-off items, even if selling prices remain at low levels.Plans to propose a dividend of 0.50 euro per share for the business year 2013 at the Annual General Meeting.