Frankfurt, Germany, August 25--German chemicals group Lanxess posted a 42% rise in second-quarter core earnings, beating analysts' forecasts thanks to strong demand for plastics and chemicals, and detailed further restructuring measures.
Lanxess said on Thursday quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) and before special items came in at 163 million euros ($199 million), compared to the average forecast of 151 million euros in a Reuters poll of 10 analysts.
Sales rose 11 percent to 1.86 billion euros, more than the poll's average of 1.722 billion euros.
Lanxess said it expected full-year EBITDA before special items of between 550 million euros and 560 million euros, and announced a second phase of restructuring that aim to save 60 million euros a year.
