Investing.com — Shares of specialty chemical company Lanxess (ETR:) rose in early afternoon trading following the announcement of adjusted earnings for the fourth quarter of 2024, which exceeded market expectations. This was largely due to a stronger-than-anticipated performance in December.
The company’s shares traded 5.6% higher to 25.90 euros following the announcement.
On Monday, Lanxess revealed preliminary figures, expecting to report approximately 159 million euros ($163.4 million) in pre-exceptional earnings before interest, taxes, depreciation, and amortization (Ebitda) for the fourth quarter. This estimate surpasses the market’s expectation of 130 million euros for the same metric.
The company attributed the positive fourth quarter, especially the robust December performance, to customers’ pre-purchasing. This trend was primarily observed in the U.S., with specialty additives and consumer-protection products being the main drivers.
The fourth quarter’s performance is expected to push the pre-exceptional Ebitda to around 614 million euros, marking a 20% increase from 2023, according to Lanxess.
Despite the strong December performance, Lanxess cautioned that the underlying macroeconomic environment heading into 2025 has not shown signs of improvement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
