LANXESS once again raised its annual net profit target
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May 11 04:06:05, 2024
The popularity of car sales has increased the demand for synthetic rubber in the global automotive industry, which has contributed to the strong growth of German chemical industry. The world's largest synthetic rubber manufacturer, LANXESS AG Germany, announced that it once again raised its annual net profit target, which is expected to reach 900 million euros, 100 million euros more than the forecast value in August this year, and nearly doubled last year (465 million euros). . In the third quarter of this year, the company’s sales amounted to 1.847 billion euros, an increase of 35%; EBIT increased 71% to 244 million euros; net profit was 118 million euros, which was 5 times the same period of last year. Heitmann, chairman of the company, said that in Asia, Latin America and other regions of the automotive and tire manufacturing demand for synthetic rubber and high-tech plastics, in particular, Chinese tire companies increased their demand after a substantial increase in demand, is the third quarter revenue The main driving force for climbing. BASF and other German chemical giants have also achieved rapid growth.