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LANXESS expects a better year-on-year financial performance in the third quarter

September 22/2011

(ICIS) -- German producer LANXESS said on Wednesday it expects a better year-on-year financial performance in the third quarter, while reiterating its full-year target of delivering a 20% growth in pre-exceptional earnings before interest, tax, depreciation and amortisation (EBITDA).
In the third quarter of 2010, the company posted a more than five-fold increase in net profit to EUR 118m (USD 162m), with pre-exceptional EBITDA up 71% year on year to EUR 244m. The company had a record quarterly net profit of EUR 181m in the second quarter. LANXESS said it has earmarked EUR 130m in research expenses, up 15% year on year.


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