clocked a wider first-quarter loss on Thursday, as the European chemicals major flagged headwinds from a persistently weak macro environment and heightened geopolitical uncertainties.
The company also forecast second-quarter earnings below market expectations.
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Lanxess’ first-quarter net loss widened to 141 million euros ($165.7 million) from a loss of 57 million euros a year ago, the company said in a statement.
This came as sales fell nearly 14% year-on-year to 1.38 billion euros.
The company flagged a weak market environment that led to lower input prices for raw materials, while persistent price pressure from Asia also weighed.
But the company flagged some opportunities stemming from Asian supply disruptions in the Middle East, which caused customers to “turn back to European suppliers such as LANXESS.”
This is expected to boost earnings in the current quarter, Lanxess said. It forecast Q2 earnings before interest, tax, depreciation, and amortization in a range of 130 million to 150 million euros– below Jefferies estimates of 157 million euros.
Lanxess reiterated its 2026 outlook of EBITDA between 450 million and 550 million euros.
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