LANXESS Corporation: Goodwill Impairment and Adjustment of Envalior Minority Interest Value

• LANXESS identified an impairment requirement on goodwill amounting to EUR 413 million in the Business Units Flavors & Fragrances and Polymer Additives
• The impairment is due to weaker demand than expected in the respective Business Units for the years 2023 and 2024
• LANXESS also foresees a material value reduction of their minority interest in Envalior, likely resulting in a low to medium triple-digit million EUR amount
• The impairment analyses are not completed or audited yet
• The impairment charges and reduction of minority interest value do not affect EBITDA pre exceptionals or cash
• LANXESS will report its Full Year 2023 results on March 14, with EBITDA pre exceptionals expected to be in line with market expectations at EUR 510 million.

The next important date, Publication Annual Financial Report, at Lanxess is on 14.03.2024.

The price of Lanxess at the time of the news was 23,990EUR and was up +0,36 % compared with the previous day.
13 minutes after the article was published, the price was 23,410EUR this corresponds to a minus of -2,42 % since publication.
At this time, the index MDAX was at 25.964,14PKT (+0,66 %).

Lanxess

-0,15 %

-0,11 %

+5,92 %

+1,38 %

-28,46 %

-57,25 %

-49,56 %

-51,08 %

+80,07 %

ISIN:DE0005470405WKN:547040

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