Welcome to LANXESS Annual Report 2011!

Skip to:zur Hauptnavigation,zum Inhaltsbereich,zur Suche


The macroeconomic signals from the sales regions relevant to LANXESS are very mixed at this time. Apart from the risks to economic development emanating from the world’s trouble spots, partially conflicting statements about growth indicators in the principal regional markets make reliable forecasting difficult.

On the whole, we expect the global macroeconomic climate to trend somewhat more favorably in 2012 than was widely predicted at the end of last year. We thus anticipate moderate economic growth for the year. The emerging economies will be the main drivers of economic developments around the world. However, development among the different regions in which we do business is likely to vary. Overall, however, the pace of growth is expected to slow against the background of the very high economic output recorded last year.

The emerging economies of Asia and Latin America, in particular – notably China, India and Brazil – should develop positively. We also expect to see gratifying growth in the United States. Nevertheless, the economy in all of these regions is expected to grow more slowly than last year. In Europe, the persistently high debt levels in some of the established economies, along with the austerity programs launched as a result, could detract from steady economic development. Accordingly, we do not currently anticipate any significant impetus from Europe, while the risk of setbacks persists.

Even in this environment, we expect demand to remain solid in most of our customer markets in light of the megatrends of mobility, agriculture, urbanization and water. We believe automobile and tire production will show further increases. The demand for agrochemicals is likely to remain steady during the year. The chemical industry as a whole will continue to develop positively.

We expect raw material and energy costs to stay volatile this year, especially in the case of petrochemical raw materials. Our goal in this regard remains to pass on rising costs to the market by raising our selling prices and to continue the successful pursuit of our price-before-volume strategy.

Considering the factors described above and the solid contributions expected from the acquisitions made in 2011, we predict that earnings will increase compared with last year. We expect EBITDA pre exceptionals for the full year 2012 to come in 5% to 10% ahead of the €1,146 million figure for 2011.

We will continue to implement our selective growth strategy in 2012 and therefore expect cash ouflows of approximately €600 million for capital expenditures related to our organic growth projects.

Forecasts Unchanged in the Reporting Period
Information in the Annual Report 2011 Page
Future organization and corporate structure 115 ff.
Future corporate objectives and strategy 115 ff.
Future production and products 116 ff.
Future sales markets and competitive position 115 ff.
Future research and development activities 104 ff., 116
Future dividend policy 119
Future financing 119