LANXESS sales and earnings increase significantly

Recently, the 2022 financial report released by LANXESS showed that the company's sales increased by 32.6% year-on-year to 8.088 billion euros; the profit before interest, taxes, depreciation and amortization within the normal business scope increased by 14.1% to 930 million euros.

Chang Mutian, CEO of LANXESS, said: "LANXESS' strategy has withstood the test and successfully responded to many challenges in the past year of adversity." It has contributed positively to the substantial growth in both sales and earnings in 2023, and is expected to be in line with 2022 earnings in 2023.

It is understood that by successfully raising sales prices, LANXESS has passed on the sharply rising raw material and energy costs to the market, and the growth momentum mainly comes from the special additives business segment and the consumer protection business segment. The acquisition of the microbial control business of the American International Flavor and Fragrance Company in early July 2022 and the acquisition of the American company Emerald Kalama Chemical in early August 2021 have made important contributions to the consumer protection business segment.

Chang Mutian said: "Despite the difficulties, we still managed to manage 2022 and achieve revenue growth. This shows that LANXESS can withstand the wind and rain, relying on the leading market position of its products to pass on the rising costs. In addition, LANXESS is more focused on specialty chemicals and has strengthened its business presence in North America, further enhancing the stability of LANXESS business and promoting growth. It will not be smooth sailing in 2023. In the new year, LANXESS will rely on its own stable position to successfully weather the current economic downturn.”