Lanxess: share battered after quarterly results.
(CercleFinance.com) - The Lanxess share is down 3.
6% shortly after 11 am this morning in Frankfurt, due to a collapse in its Q2 earnings.
Indeed, earnings have fallen from 75 million euros to 3 million euros, due to the acquisition of the American group Chemtura, which was finalised at the end of April.
However, the group's revenues and adjusted EBITDA are respectively up 30% and 25% at 2.52 billion euros and 367 million euros, against 2.43 billion euros and 361 million euros expected by the consensus.
Furthermore, the group has also maintained its FY forecast for adjusted EBITDA of between 1.225 billion euros and 1.3 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
6% shortly after 11 am this morning in Frankfurt, due to a collapse in its Q2 earnings.
Indeed, earnings have fallen from 75 million euros to 3 million euros, due to the acquisition of the American group Chemtura, which was finalised at the end of April.
However, the group's revenues and adjusted EBITDA are respectively up 30% and 25% at 2.52 billion euros and 367 million euros, against 2.43 billion euros and 361 million euros expected by the consensus.
Furthermore, the group has also maintained its FY forecast for adjusted EBITDA of between 1.225 billion euros and 1.3 billion euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.