Increased Utilization and EBITDA Improvement
The company reported a significant improvement in EBITDA driven by tight cost initiatives and increased utilization, with utilization rates increasing from 60% last year to around 70% this year.
Growth in Intermediates and Additives Segments
The Intermediates segment experienced extremely good volume momentum, leading to a 100% increase in EBITDA, and the Additives segment also showed noteworthy growth.
Successful Portfolio Transformation
LANXESS completed the divestment of Urethane Systems, marking the end of its polymer business exit strategy. This is expected to positively impact the company's focus on high-margin chemical businesses.
Expansion in the U.S. Market
The U.S. market now accounts for 28% of sales, up from 15% in 2016, reflecting a strategic focus and increased asset base in the region.
Revolving Credit Facility Prolonged
The company successfully prolonged its revolving credit facility with sustainability-linked elements, maintaining good financial terms.