Declared Dividend • 5h
Dividend of €0.10 announced Dividend of €0.10 is the same as last year. Ex-date: 22nd May 2026 Payment date: 27th May 2026 Dividend yield will be 0.6%, which is lower than the industry average of 6.1%. Tillkännagivande • Apr 12
LANXESS Aktiengesellschaft announces Annual dividend, payable on May 27, 2026 LANXESS Aktiengesellschaft announced Annual dividend of EUR 0.1000 per share payable on May 27, 2026, ex-date on May 22, 2026 and record date on May 25, 2026. Tillkännagivande • Apr 10
LANXESS Aktiengesellschaft, Annual General Meeting, May 21, 2026 LANXESS Aktiengesellschaft, Annual General Meeting, May 21, 2026, at 10:00 W. Europe Standard Time. Buy Or Sell Opportunity • Jan 09
Now 21% overvalued Over the last 90 days, the stock has fallen 12% to €17.87. The fair value is estimated to be €14.83, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. For the next 3 years, revenue is forecast to grow by 1.7% per annum. Earnings are also forecast to grow by 39% per annum over the same time period. Price Target Changed • Jan 05
Price target decreased by 7.4% to €18.80 Down from €20.30, the current price target is an average from 15 analysts. New target price is 5.9% above last closing price of €17.76. Stock is down 28% over the past year. The company is forecast to post a net loss per share of €2.84 next year compared to a net loss per share of €2.05 last year. Reported Earnings • Aug 18
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: €0.52 loss per share (further deteriorated from €0.18 loss in 2Q 2024). Revenue: €1.47b (down 13% from 2Q 2024). Net loss: €45.0m (loss widened 181% from 2Q 2024). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates by 69%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Tillkännagivande • Apr 11
LANXESS Aktiengesellschaft, Annual General Meeting, May 22, 2025 LANXESS Aktiengesellschaft, Annual General Meeting, May 22, 2025, at 10:00 W. Europe Standard Time. Tillkännagivande • Apr 02
UBE Corporation (TSE:4208) completed the acquisition of Urethane Systems Business of LANXESS Aktiengesellschaft (XTRA:LXS) for approximately €500 million. UBE Corporation (TSE:4208) signed a contract to acquire Urethane Systems Business of LANXESS Aktiengesellschaft (XTRA:LXS) for an enterprise value of €460 million on October 3, 2024. For the last twelve months period ending September 30, 2024, Urethane Systems Business of LANXESS reported total revenue of €265 million and EBITDA of €50 million. The acquisition price is expected to be confirmed based on the price adjustment indicated in the stock purchase agreement. The acquisition will be financed through cash on hand and interest-bearing debt. The Urethane Systems business comprises 5 manufacturing sites globally as well as application laboratories in the USA, Europe and China. UBE Corporation will take over all operations from LANXESS with a total of around 400 employees. LANXESS will use the proceeds to reduce its net debt. The transaction is subject to the approval of the relevant authorities including regulatory approval. The transaction is expected to close in the first half of 2025. Nomura Holding America, Inc. acted as financial advisor to UBE Corporation. Matthias Töke, Katharina Spenner LL.M., Joachim Fröhlich LL.M., Katharina Weiner, Daniel Bork, Christoph Becker, Ariane Schaaf, Simone (Bach) Rieken LL.M., Johannes M. Baumann, LL.M., Christian Atzler, Christian Vocke, Richard Raoul Stefanink, Patrick H. Wilkening, Markus Hecht, Christian Reichel and Nicolas Kredel LL.M. of Baker & Mckenzie Partnerschaft Von Rechtsanwälten Wirtschaftsprüfern,Steuerberatern Und Solicitors acted as legal advisor to UBE Corporation. Masahiro Inaba, Byron Frost and Tetsuo Tsujimoto of Baker & McKenzie (Gaikokuho Joint Enterprise) acted as legal advisor to UBE Corporation.
UBE Corporation (TSE:4208) completed the acquisition of Urethane Systems Business of LANXESS Aktiengesellschaft (XTRA:LXS) for approximately €500 million on April 1, 2025. All relevant antitrust authorities had granted the necessary approvals for the transaction Tillkännagivande • Mar 22
LANXESS Aktiengesellschaft announces Annual dividend, payable on May 27, 2025 LANXESS Aktiengesellschaft announced Annual dividend of EUR 0.1000 per share payable on May 27, 2025, ex-date on May 23, 2025 and record date on May 26, 2025. Reported Earnings • Nov 09
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: €0.01 (up from €1.52 loss in 3Q 2023). Revenue: €1.60b (flat on 3Q 2023). Net income: €1.00m (up €132.0m from 3Q 2023). Profit margin: 0.1% (up from net loss in 3Q 2023). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Tillkännagivande • Oct 04
UBE Corporation (TSE:4208) signed a contract to acquire Urethane Systems Business of LANXESS Aktiengesellschaft (XTRA:LXS) for an enterprise value of €460 million. UBE Corporation (TSE:4208) signed a contract to acquire Urethane Systems Business of LANXESS Aktiengesellschaft (XTRA:LXS) for an enterprise value of €460 million on October 3, 2024. For the last twelve months period ending September 30, 2024, Urethane Systems Business of LANXESS reported total revenue of €265 million and EBITDA of €50 million. The acquisition price is expected to be confirmed based on the price adjustment indicated in the stock purchase agreement. The acquisition will be financed through cash on hand and interest-bearing debt. The Urethane Systems business comprises 5 manufacturing sites globally as well as application laboratories in the USA, Europe and China. UBE Corporation will take over all operations from LANXESS with a total of around 400 employees. LANXESS will use the proceeds to reduce its net debt. The transaction is subject to the approval of the relevant authorities including regulatory approval. The transaction is expected to close in the first half of 2025. New Risk • Oct 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (56% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change). Reported Earnings • Aug 11
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: €0.19 loss per share (improved from €1.68 loss in 2Q 2023). Revenue: €1.68b (down 5.6% from 2Q 2023). Net loss: €16.0m (loss narrowed 89% from 2Q 2023). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 76%. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jul 10
LANXESS Aktiengesellschaft Announces Executive Changes Lanxess Corp. announced Simon Berheide as its new regional CFO for North America. Berheide is a 14-year veteran of Lanxess at its global headquarters in Germany and was most recently head of business development and integration as well as head of global controlling and strategy. He'll be in charge of the financial operation of Lanxess' 28 locations in the U.S., Canada and Mexico. He succeeds Christian Meiners, who is returning to Germany after three years in Pittsburgh to work in Lanxess' Advanced Industrial Intermediates. Berheide has moved as of July 1 to the Pittsburgh region with his family, and he is working with Lanxess' new president and CEO, Frederique van Baarle. Van Baarle took over in October. Berheide, fluent in German and English, had been in a dual degree training program at Bayer and also had an MBA at IE Business School in Spain and the Stern School of Business at New York University. Upcoming Dividend • May 20
Upcoming dividend of €0.10 per share Eligible shareholders must have bought the stock before 27 May 2024. Payment date: 29 May 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.0%). Reported Earnings • May 09
First quarter 2024 earnings released: €1.13 loss per share (vs €0.12 profit in 1Q 2023) First quarter 2024 results: €1.13 loss per share (down from €0.12 profit in 1Q 2023). Revenue: €1.61b (down 15% from 1Q 2023). Net loss: €98.0m (down €108.0m from profit in 1Q 2023). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Declared Dividend • Apr 14
Dividend reduced to €0.10 Dividend of €0.10 is 90% lower than last year. Ex-date: 27th May 2024 Payment date: 29th May 2024 Dividend yield will be 0.4%, which is lower than the industry average of 6.1%. Reported Earnings • Mar 17
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: €9.76 loss per share (down from €2.13 profit in FY 2022). Revenue: €6.71b (down 17% from FY 2022). Net loss: €843.0m (down €1.03b from profit in FY 2022). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jan 16
Lanxess Reportedly Seeks to Sell Polyurethane Ops LANXESS Aktiengesellschaft (XTRA:LXS) has initiated a process to sell its polyurethane business, which could be valued at between EUR 500 million (USD 547.2 million) and EUR 600 million, German paper Handelsblatt reported on January 15, 2024. The company has engaged Deutsche Bank to search for a buyer, Handelsblatt said, citing people familiar with the matter. Chemical companies such as Evonik Industries AG (XTRA:EVK), Stockmeier, or Plixxent, are considered possible interested parties. With the sale, Lanxess aims to completely exit the plastics market as the company has transformed into a producer of ingredients for food, cosmetics, and pharmaceuticals. Price Target Changed • Dec 18
Price target decreased by 8.6% to €29.08 Down from €31.82, the current price target is an average from 18 analysts. New target price is approximately in line with last closing price of €28.05. Stock is down 23% over the past year. The company is forecast to post earnings per share of €12.07 for next year compared to €2.13 last year. New Risk • Dec 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.09% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Earnings are forecast to decline by an average of 0.09% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). New Risk • Nov 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.4% average weekly change). Reported Earnings • Nov 09
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: €1.52 loss per share (down from €0.97 profit in 3Q 2022). Revenue: €1.60b (down 27% from 3Q 2022). Net loss: €131.0m (down 256% from profit in 3Q 2022). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. New Risk • Nov 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 283% Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). Tillkännagivande • Nov 07
LANXESS Aktiengesellschaft Proposes Dividend for the Fiscal Year 2023 LANXESS Aktiengesellschaft proposed dividend of EUR 0.10 for the Fiscal Year 2023. Price Target Changed • Oct 11
Price target decreased by 9.1% to €33.45 Down from €36.82, the current price target is an average from 19 analysts. New target price is 47% above last closing price of €22.78. Stock is down 31% over the past year. The company is forecast to post earnings per share of €13.38 for next year compared to €2.13 last year. Price Target Changed • Oct 09
Price target decreased by 7.2% to €34.82 Down from €37.50, the current price target is an average from 19 analysts. New target price is 53% above last closing price of €22.80. Stock is down 33% over the past year. The company is forecast to post earnings per share of €13.43 for next year compared to €2.13 last year. Tillkännagivande • Sep 18
LANXESS Aktiengesellschaft(XTRA:LXS) dropped from FTSE All-World Index (USD) LANXESS Aktiengesellschaft(XTRA:LXS) dropped from FTSE All-World Index (USD) New Risk • Sep 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 283% Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. New Risk • Aug 07
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 283% Dividend yield: 3.6% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 283% Reported Earnings • Aug 06
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: €1.68 loss per share (down from €0.56 profit in 2Q 2022). Revenue: €1.78b (down 11% from 2Q 2022). Net loss: €145.0m (down 402% from profit in 2Q 2022). Revenue exceeded analyst estimates by 6.9%. Earnings per share (EPS) also surpassed analyst estimates significantly. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Price Target Changed • Jun 21
Price target decreased by 12% to €43.70 Down from €49.88, the current price target is an average from 21 analysts. New target price is 63% above last closing price of €26.79. Stock is down 27% over the past year. The company is forecast to post earnings per share of €1.74 for next year compared to €2.13 last year. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €26.89, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Chemicals industry in Germany. Total loss to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €41.01 per share. Upcoming Dividend • May 18
Upcoming dividend of €1.05 per share at 3.0% yield Eligible shareholders must have bought the stock before 25 May 2023. Payment date: 30 May 2023. Payout ratio is a comfortable 71% and the cash payout ratio is 97%. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). Reported Earnings • May 11
First quarter 2023 earnings released: EPS: €0.12 (vs €0.76 in 1Q 2022) First quarter 2023 results: EPS: €0.12 (down from €0.76 in 1Q 2022). Revenue: €1.90b (down 1.7% from 1Q 2022). Net income: €10.0m (down 85% from 1Q 2022). Profit margin: 0.5% (down from 3.4% in 1Q 2022). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Buying Opportunity • Apr 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be €45.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 37%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings is also forecast to grow by 24% per annum over the same time period. Reported Earnings • Mar 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: €2.13 (down from €2.54 in FY 2021). Revenue: €8.09b (up 7.0% from FY 2021). Net income: €184.0m (down 16% from FY 2021). Profit margin: 2.3% (down from 2.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 31%. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Buying Opportunity • Feb 11
Now 21% undervalued Over the last 90 days, the stock is up 20%. The fair value is estimated to be €57.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 21%. For the next 3 years, revenue is forecast to grow by 1.9% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Buying Opportunity • Jan 25
Now 20% undervalued Over the last 90 days, the stock is up 29%. The fair value is estimated to be €56.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has declined by 21%. For the next 3 years, revenue is forecast to grow by 2.0% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 15% share price gain to €43.44, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Chemicals industry in Germany. Total loss to shareholders of 20% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €58.74 per share. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: €0.97 (vs €0.46 in 3Q 2021) Third quarter 2022 results: EPS: €0.97 (up from €0.46 in 3Q 2021). Revenue: €2.19b (up 38% from 3Q 2021). Net income: €84.0m (up 110% from 3Q 2021). Profit margin: 3.8% (up from 2.5% in 3Q 2021). Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 16% per year. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment improved over the past week After last week's 15% share price gain to €32.91, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Chemicals industry in Germany. Total loss to shareholders of 38% over the past three years. Reported Earnings • Aug 08
Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2022 results: EPS: €0.56 (up from €0.54 in 2Q 2021). Revenue: €2.00b (up 36% from 2Q 2021). Net income: €48.0m (up 2.1% from 2Q 2021). Profit margin: 2.4% (down from 3.2% in 2Q 2021). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 11%. Over the next year, revenue is expected to shrink by 8.4% compared to a 3.8% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 12% per year. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to €43.36, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Chemicals industry in Germany. Negligible returns to shareholders over past three years. Upcoming Dividend • May 19
Upcoming dividend of €1.05 per share Eligible shareholders must have bought the stock before 26 May 2022. Payment date: 31 May 2022. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (5.0%). Reported Earnings • May 06
First quarter 2022 earnings: EPS exceeds analyst expectations First quarter 2022 results: EPS: €1.13 (up from €0.73 in 1Q 2021). Revenue: €2.43b (up 44% from 1Q 2021). Net income: €98.0m (up 56% from 1Q 2021). Profit margin: 4.0% (up from 3.7% in 1Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 25%. Over the next year, revenue is forecast to grow 6.9%, compared to a 8.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 15
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: €7.56b (up 24% from FY 2020). Net income: €219.0m (down 75% from FY 2020). Profit margin: 2.9% (down from 15% in FY 2020). Revenue exceeded analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 9.4%, compared to a 4.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €37.19, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Chemicals industry in Germany. Total loss to shareholders of 15% over the past three years. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS €0.89 (vs €9.32 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: €1.83b (up 28% from 2Q 2020). Net income: €77.0m (down 90% from 2Q 2020). Profit margin: 4.2% (down from 56% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 13
First quarter 2021 earnings released The company reported a poor first quarter result with weaker earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: €1.69b (flat on 1Q 2020). Net income: €63.0m (down 3.1% from 1Q 2020). Profit margin: 3.7% (down from 3.8% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 13
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 20 May 2021. Payment date: 24 May 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.6%). Reported Earnings • Mar 12
Full year 2020 earnings released: EPS €10.30 (vs €2.89 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €6.10b (down 10% from FY 2019). Net income: €892.0m (up 250% from FY 2019). Profit margin: 15% (up from 3.7% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Mar 12
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.2%. Earnings per share (EPS) missed analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 5.7%, compared to a 6.0% growth forecast for the Chemicals industry in Germany. Is New 90 Day High Low • Mar 10
New 90-day high: €66.70 The company is up 8.0% from its price of €61.82 on 10 December 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €43.44 per share. Is New 90 Day High Low • Jan 16
New 90-day high: €64.48 The company is up 29% from its price of €50.00 on 16 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €52.61 per share. Is New 90 Day High Low • Dec 29
New 90-day high: €64.08 The company is up 30% from its price of €49.34 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €68.36 per share. Is New 90 Day High Low • Dec 08
New 90-day high: €59.50 The company is up 18% from its price of €50.40 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €65.64 per share. Is New 90 Day High Low • Nov 16
New 90-day high: €52.98 The company is up 10.0% from its price of €47.98 on 18 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €65.76 per share. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue and earnings miss expectations Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 39%. Over the next year, revenue is forecast to grow 3.2%, compared to a 2.8% growth forecast for the Chemicals industry in Germany. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS €0.30 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €1.46b (down 18% from 3Q 2019). Net income: €26.0m (down 62% from 3Q 2019). Profit margin: 1.8% (down from 3.9% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 29
New 90-day low: €43.03 The company is down 4.0% from its price of €44.70 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €52.17 per share. Is New 90 Day High Low • Oct 09
New 90-day high: €52.50 The company is up 12% from its price of €46.95 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €58.82 per share. 
