International.
Lanxess raised its profit forecast for 2016. The company now expects pre-extraordinary EBITDA to reach a range of €930 million and €970 million, mainly due to good business prospects in Lanxess' "new" segments for the second half of the year.
Previously, Lanxess had assumed profits of between 900 million and 950 million euros. In a strong second quarter of 2016, pre-extraordinary EBITDA increased by 8.5% to €293 million, compared to €270 million the previous year.
Extraordinary EBITDA pre-margin improved year-on-year from 12.8% to 15.1%. The overall good performance was mainly due to the strong development of Lanxess' "new" segments of advanced intermediates, chemicals and high-performance materials.
Lanxess expects to close the acquisition of Chemours' U.S.-based cleaning and disinfection business by the end of the third quarter. The acquisition will increase the company's earnings per share in the first fiscal year. The acquired business is expected to deliver a contribution to annual EBITDA of around €20 million, which will gradually increase the synergy effect to around €30 million in 2020.
