LNXSY Lanxess AG (PK)

   By Mauro Orru 
 

Lanxess AG posted higher adjusted earnings in the third quarter despite a sharp increase in raw-material, energy and freight costs, but it said that adverse exchange rates, particularly from the U.S. dollar, prevented a further rise in earnings.

The German specialty-chemicals company reported adjusted earnings before interest, taxes, depreciation and amortization of EUR278 million, up from EUR193 million in the third quarter last year.

Lanxess conceded that "adverse exchange rates, mainly from the U.S. dollar, but especially higher energy and freight costs prevented a further increase in earnings."

The euro, in which Lanxess reports earnings, trades at $1.1576.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

November 04, 2021 04:11 ET (08:11 GMT)

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