Boosted by 32% growth in Q4
Speciality chemicals company Lanxess has reported ‘outstanding’ results in 2010 with net income up 86% to €379m on sales of €7.1bn, an increase of 41% on 2009.
In the final quarter of 2010, the company benefited from higher volumes, pricing and currency effects to boost sales to €1.8bn, 32% higher than in the fourth quarter of 2009.
Latin America proved Lanxess’ fastest growing business region, with sales rising 85%, while the EMEA region remained the group’s largest, accounting for €2bn worth of revenue.
“Our growth story is set to continue after an outstanding 2010 and an excellent start to 2011. Growth will be driven by our focus on emerging markets and premium products,” comments Lanxess ceo Axel C Heitmann.
Looking to 2011, the company expects sales to be higher still but notes that both the economy and the chemical industry will grow at a slower rate than in 2010. It predicts that the strongest growth will be in the emerging Asia Pacific and Latin America markets.