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Lanxess AG (LNXSY) CEO Matthias Zachert on Q2 2018 Results - Earnings Call Transcript

Aug. 04, 2018 2:42 PM ETLANXESS Aktiengesellschaft (LNXSY)
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Lanxess AG (OTCPK:LNXSY) Q2 2018 Results Earnings Conference Call August 2, 2018 4:00 AM ET


Andre Simon - Head, IR

Matthias Zachert - CEO

Michael Pontzen - CFO


Tom Wrigglesworth - Citi

Christian Faitz - Kepler Cheuvreux

Patrick Rafaisz - UBS

Georgia Harris - Bank of America

Martin Evans - HSBC

Markus Mayer - Baader-Helvea

Thomas Swoboda - Societe Generale

Andre Simon

Thank you very much, and a warm welcome to everybody on the phone to our Q2 2018 conference call from my end as well. I'm very happy to have our CEO, Matthias Zachert; and our CFO, Michael Pontzen, with me. And before I hand over, please take notice of our safe harbor statement.

And with that, I'm happy to hand over to Matthias Zachert for a brief presentation and afterwards, as always, the Q&A. Matthias, please go ahead.

Matthias Zachert

Welcome to LANXESS. Welcome to second quarter. All good on our side. Despite quite heavy headwinds on currencies and raw materials, we were successful in passing all of that on to the market as far as raws are concerned and we mitigated currencies respectfully. As far as divisions are concerned, we had some modest volume developments in Advanced Intermediates, basically driven by still weak agro industry. But as far as Advanced Industrial Intermediates is concerned, volumes were rock-solid, and we rolled over raw materials already within this quarter.

As far as Specialty Additives are concerned, we are very happy to report the strongest quarter so far. And volumes were modest because, in the meantime, we have or are in the process of closing 3 production sites: Ankerweg is offline; the same holds true for our South American plant, which we announced last year for closure; and we are currently in the process of taking off a very small site in Mexico, which already has stopped

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