Strong performance polymers growth enabled Lanxess (Leverkusen / Germany; www.lanxess.com) to nearly double its earnings last year. EBITDA, adjusted for special items, soared 97% to EUR 918m. The company was previously forecasting an adjusted EBITDA of EUR 900m.

Lanxess said full year sales increased 41% to EUR 7.1 bn, while net income reached EUR 379 m from EUR 40m a year earlier.

“Our growth story is set to continue after an outstanding 2010 and an excellent start to 2011,” stated CEO Axel Heitmann. “Growth will be driven by our focus on emerging markets and premium products serving the global megatrends mobility, urbanisation, agriculture and water.” Lanxess expects to further increase its sales and adjusted EBITDA this year, with the strongest growth rates in emerging markets in Asia Pacific and Latin America. The company said its largest division, performance polymers, will benefit from positive demand for tyres and high-tech plastics.

Last year the performance polymers division more than doubled adjusted EBITDA to EUR 585m from EUR 259m. Sales rose by 58.4% to EUR 3.78 bn, thanks to higher volumes and prices. Lanxess said the butyl rubber and performance butadiene rubbers businesses benefitted from German legislation making the use of winter or all-season tyres compulsory in winter. The technical rubber products and semi-crystalline products businesses were boosted by the general upturn in demand and increased marketing activities, it added.

Across the group, growth was strongest in Latin America, where sales rose 85% to EUR 955m. EMEA, excluding Germany, remained the largest region, with sales up 31% at EUR 2.0 bn. Group sales in Germany rose 24% to EUR 1.3 bn.

Earlier this month, Lanxess announced expansions of its compounding capacity in Germany and the US. The company plans to double compounding capacity for polybutylene terephthalate (PBT) at its joint venture with DuPont (www.dupont.com) in Hamm-Uentrop / Germany. In the US, Lanxess has broken ground on a compounding facility for engineering polymers – see Plasteurope.com of 11.03.2011.

e-Service: Lanxess annual report 2010 as a PDF-document