Q2 2024 Lanxess AG Earnings Call Transcript
Key Points
- Sequential improvement in sales and profitability compared to Q1 2024.
- EBITDA increased by 69% year-over-year, indicating strong operational performance.
- Forward restructuring program is advancing well, contributing to cost savings.
- CapEx guidance for 2024 has been lowered to EUR 330 million, reflecting efficient asset utilization.
- Free cash flow is expected to improve significantly in the forthcoming years.
- Overall market remains soft, with no strong economic recovery in sight.
- Agro industry demand is weaker than anticipated, affecting Q3 and Q4 performance.
- Construction sector remains soft, impacting polymer additives and advanced intermediates.
- Q3 is expected to be at best at Q2 levels, with Q4 traditionally being the weakest quarter.
- High underutilized assets continue to be a challenge, affecting profitability.
Hello, and welcome to the Lanxess Q2 2024 results investor relations call. (Operator Instructions) Please note this call is being recorded.
Today, I am pleased to present Mr. Andrew Simon, Head of Investor Relations. Please begin your meeting.
Thank you very much [Lara] and warm welcome to everybody to our Q2 conference call from my end as well. As always, we will begin by asking you to take notice of our safe harbor statements and with me today is our CEO, Matthias Zachert; and our CFO, Oliver Stratmann. Matthias will start with a short presentation, and then we will open the floor for your questions. With that, I'm happy to hand over to Matthias. Please go ahead.
Thank you, Andre, and a warm welcome from my side to all of you participating to our Q2 results call. I will start the presentation on page 4 on the slide deck that we have distributed this morning. Here
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