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Lanxess sees slight increase in 2017 adj core earnings
March 15, 2017 / 12:34 PM / 6 months ago

Lanxess sees slight increase in 2017 adj core earnings

FRANKFURT, March 15 (Reuters) - Lanxess, the world’s largest synthetic rubber maker, said on Wednesday that full-year adjusted core earnings would increase slightly after reporting better-than-expected results.

The full-year outlook for adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) does not yet include the planned takeover of Chemtura, a U.S. maker of additives for lubricants and flame retardants, which it plans to wrap up by mid-2017.

Adjusted EBITDA for the fourth quarter rose 21 percent to 183 million euros ($195 million), beating average analyst expectations for 178 million in a Reuters poll.

It proposed an annual dividend of 0.70 euros per share, in line with the analyst consensus. ($1 = 0.9406 euros) (Reporting by Ludwig Burger; Edditing by Harro ten Wolde)

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