Investing.com — Stock in Specialty Chemicals Company Lanxes (ETR:) rose in early afternoon following the announcement of adjusted earnings for the fourth quarter of 2024, which exceeded market expectations. This was largely due to a better-than-expected performance in December.
The company's shares rose 5.6% to 25.90 euros after the announcement.
On Monday, Lanxess revealed preliminary figures, expecting to report approximately €159 million ($163.4 million) in exceptional earnings before interest, taxes, depreciation and amortization (Ebitda) for the fourth quarter. This estimate exceeds the market expectation of 130 million euros by the same metric.
The company attributed the positive fourth quarter, especially the strong performance in December, to early customer purchases. This trend was primarily observed in the United States, with specialty additives and consumer protection products being the main drivers.
The fourth quarter performance is expected to boost pre-exceptional Ebitda to around €614 million, marking a 20% increase over 2023, according to Lanxess.
Despite December's strong performance, Lanxess warned that the underlying macroeconomic environment heading into 2025 has shown no signs of improving.
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