Aug 7 (Reuters) – Germany’s Lanxess, the world’s largest maker of synthetic rubber, posted better-than-expected underlying core earnings in the second quarter on currency effects and as it passed higher feedstock prices along to customers.
Quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, gained 6.8 percent to 362 million euros ($449.4 million) more than the 355 million euros expected on average in a Reuters poll of 11 analysts.
Lanxess, which competes with Exxon Mobil in the rubber market, said it continues to expect adjusted EBITDA in 2012 to rise 5-10 percent. ($1 = 0.8056 euros)
(Reporting by Ludwig Burger)
Source: http://www.reuters.com/article/2012/08/07/lanxess-results-idUSWEA908720120807
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