March 15, 2018 / 6:12 AM / 2 years ago

Lanxess posts 30 percent gain in 2017 core earnings

FILE PHOTO: A logo of Lanxess is seen next to dark clouds at Cologne Bonn airport March 27, 2015. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - Germany’s Lanxess (LXSG.DE) said full-year core earnings rose by almost 30 percent, driven by volume gains in specialty chemicals and also boosted by the takeover of U.S. peer Chemtura.

Earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for one-off items, reached 1.29 billion euros ($1.60 billion) in 2017, Lanxess said on Thursday, in line with average analyst expectation in a Reuters poll.

No longer including its stake in its Arlanxeo synthetic-rubber joint venture with Saudi Aramco in its guidance, Lanxess said it was aiming for a slight overall increase in adjusted EBITDA in 2018, up from a comparable 925 million euros in 2017.

Reporting by Ludwig Burger; Editing by Maria Sheahan

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