Lanxess's Q1 core profit expected to rise by a third

·1-min read
FILE PHOTO: The headquarters of chemicals maker Lanxess are seen in Cologne

FRANKFURT (Reuters) - German specialty chemicals maker Lanxess on Tuesday said it expects a significant rise in first-quarter core profit and sales, citing strong demand.

First-quarter EBITDA pre-exceptionals is expected to rise 32% to 320 million euros ($345 million), while sales are seen up 44% at 2.43 billion, the company said. Full results for the first-quarter are due May 5.

"Demand for our high-margin specialty chemicals products remains high now. This course makes us less vulnerable to global fluctuations in demand. Nevertheless, given the geopolitical uncertainties, we remain very vigilant for the rest of the year," CEO Matthias Zachert said.

($1 = 0.9267 euros)

(Reporting by Christoph Steitz; Editing by Chris Reese)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting