LEVERKUSEN (dpa-AFX) - Lanxess AG (LNXSF.PK), a German specialty chemicals company, reported a decline in earnings for the full year while sales improved from last year.
For the financial year 2021, the Cologne-headquartered firm reported a net income of 267 million euros, compared with 885 million euros, recorded for the financial year 2020.
The firm generated its earnings from continued operations at 218 million euros as against 908 million euros last year.
For the year 2020, the firm had generated significant proceeds from the sale of the stake in chemical park operator Currenta.
The German firm posted its EBITDA pre exceptionals at 1.01 billion euros, compared with 862 million euros, on year-on-year basis.
For the fiscal 2021, the company said it will propose an increased dividend of 1.05 euros per share.
The company registered a rise in its sales at 7.55 billion euros, compared with 6.10 billion euros, reported a year ago.
Moving forward, for the first quarter, excluding the impact of Ukraine conflict, Lanxess expects its EBITDA , excluding items, to be in the range of 280 million euros - 320 million euros.
The company added that excluding uncertainties related to the war, it expects significant earnings increase for 2022.
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