LANXESS action plan fights sales decline. The company launches “FORWARD!” action plan to cut costs and improve efficiency amidst an 11.1% decline in Q2 sales to €1.778 billion.
CEO Matthias Zachert aims to offset a 57.7% drop in EBITDA by saving €150 million annually from 2025, aided by contributions from the Microbial Control business acquired from IFF.
LANXESS reduced its net debt by 25% to €2.9 billion. The forecast for the year projects an EBITDA between €600-650 million, while Zachert advocates for an industry-specific electricity tariff and other competitive conditions.
The forward plan includes a hiring freeze and cost-discipline measures, with long-term plans for structural changes to increase efficiency.