Chemicals group Lanxess sees 2021 profits at lower end of forecast
© Reuters. FILE PHOTO: A logo of Lanxess is seen next to dark clouds at Cologne Bonn airport March 27, 2015. REUTERS/Wolfgang Rattay
(Reuters) – German speciality chemicals maker Lanxess said on Thursday it expects its 2021 core profit to come at the lower end of its guidance range, saying increased energy, raw material and freight costs could rise even higher in the fourth quarter.
The Cologne-based group reported underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of 278 million euros for the July-September period, slightly above analysts’ average estimate of 276 million euros ($319.72 million) in a company-provided poll.
The group had earlier forecast full-year adjusted EBITDA of 1 billion to 1.05 billion euros.
($1 = 0.8633 euros)