LANXESS sales up 23.8 percent year-on-year at EUR 7.557 billion in fiscal year 2021

Mumbai, March 31: LANXESS closed fiscal year 2021 successfully. Despite immense increases in energy, raw material and freight costs, the specialty chemicals company significantly improved its sales and earnings.

Group sales amounted to EUR 7.557 billion in 2021, up 23.8 percent on the previous year’s figure of EUR 6.104 billion. EBITDA pre exceptionals increased by 17.2 percent to EUR 1.010 billion compared with EUR 862 million a year earlier. Earnings were therefore within the guided range of EUR 1 billion to EUR 1.05 billion. The good results across all of the Group’s segments were mainly driven by strong demand from customer industries such as automotive, construction, transport and manufacturing. Influenced by significantly higher costs and one-time effects, the EBITDA margin pre exceptionals was now 13.4 percent after 14.1 percent in the previous year.

“We promised that 2021 would be a year of growth – and we delivered this against all the odds. We largely passed on the extreme cost increases to the market. In addition, we accomplished four acquisitions in the middle of the pandemic and thus massively expanded our Consumer Protection segment. All this shows the strength and stability that LANXESS now enjoys,” said Matthias Zachert, Chairman of the Board of Management of LANXESS.

Significant growth expected for 2022 – Matthias Zachert was optimistic about the current fiscal year 2022 despite a further increase in costs. “We expect energy and raw material prices to continue to rise in the first half of 2022. Global supply chains also remain fragile. Nevertheless, we would anticipate further significant earnings growth in this fiscal year.” However, the impact of the war in Ukraine is yet unforeseeable. LANXESS anticipates an earnings jump in the first quarter of 2022 and expects EBITDA pre exceptionals to come in between EUR 280 million and EUR 320 million (previous year: EUR 242 million).

Business

One Sprig Hospitality Consultants: Crafting F&B Brands Across India

New Delhi (India), June 12: India has emerged as a dynamic hub for culinary innovation and hospitality excellence, leading this transformation is One Sprig Hospitality Consultants based out of Bangalore and Hyderabad. Founded by Devbrat Bhardwaj and co-founded by Chef Pritam Das in 2016, One Sprig is revolutionising the food and beverage industry with its comprehensive end-to-end […]

Read More
Business

Web Zodiac Celebrates 6 Years of Excellence in Digital Marketing

Noida (Uttar Pradesh) [India], June 11: Web Zodiac, a full-service digital marketing agency, is proud to announce its sixth anniversary. Over the past six years, Web Zodiac has been at the forefront of helping businesses worldwide achieve success through innovative and effective digital marketing strategies. Since its inception, Web Zodiac has dedicated itself to providing […]

Read More
Business

Mumbai-Based RRP Drones Innovation Pvt Ltd Partners with UAE’s Microavia for Revolutionary “Drone in a Box” Solution Under Make in India Initiative

Mumbai (Maharashtra) [India], June 10:  In a groundbreaking move set to redefine aerial surveillance, Mumbai’s RRP Drones Innovation Pvt Ltd, led by Rajendra Chodankar, has announced a strategic partnership with UAE-based technology leader Microvia. Together, they will introduce the innovative “Drone in a Box” solution, a product designed for diverse applications ranging from military operations […]

Read More