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(RTTNews) - German specialty chemicals company Lanxess AG (LNXSF.PK) reported Thursday wider net loss and weak adjusted EBITDA in its first quarter, hurt by lower revenues. The company noted that a persistently weak economic environment, ongoing geopolitical uncertainties and prior year's portfolio divestments impacted the results.
Looking ahead, the company projects sequentially higher adjusted EBITDA in its second quarter, and also maintained fiscal 2026 outlook.
The company said the start of the year was weak, but since March it has seen a slight positive momentum.
In the first quarter, net loss was 141 million euros, wider than last year's loss of 57 million euros.
EBITDA pre exceptionals reached 94 million euros, down 29.3 percent from 133 million euros in the previous year. The EBITDA margin pre exceptionals was 6.8 percent, compared with 8.3 percent in the same quarter of the previous year.
Sales amounted to 1.378 billion euros, 13.9 percent lower than prior year's 1.601 billion euros.
Looking ahead, LANXESS expects its EBITDA pre exceptionals in the second quarter to be significantly higher than in the first quarter, reaching a range of 130 million euros to 150 million euros
Matthias Zachert, CEO of LANXESS, stated, "Due to the conflict in the Middle East, the supply chains of many Asian competitors have been disrupted, causing customers to turn back to European suppliers such as LANXESS. Supply capability is currently a significant competitive advantage. At the same time, we have raised prices for many of our products to pass on the increased costs of raw materials, energy and logistics.'
The company expects the market conditions to persist for at least the coming months.
For the full year 2026, the Group continues to expect EBITDA pre exceptionals of between 450 million euros and 550 million euros, compared to 510 million euros in fiscal 2025.
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