Lanxess AG (XTER:LXS)

€ 23.42 0.06 (0.26%) Market Cap: 2.02 Bil Enterprise Value: 4.53 Bil PE Ratio: 0 PB Ratio: 0.46 GF Score: 70/100

Q2 2023 Lanxess AG Earnings Call Transcript

Aug 04, 2023 / 11:00AM GMT

Release Date Price: €28.47 (-2.37%)

Transcript

Operator

Ladies and gentlemen, thank you for standing by. Welcome, and thank you for joining the LANXESS Conference Call.

I would now like to turn the conference over to Eva Frerker. Please go ahead.

Eva Frerker

(technical difficulty)

Matthias Zachert

LANXESS Aktiengesellschaft - CEO & Chairman of the Board of Management

Thank you, Eva, for your kind introduction which potentially was not that audible to everybody. But I would like to welcome all of you heartfully, warmly reference made towards safe harbor statements. And Michael and myself will lead you through the conference call.

I start with the presentation on Page 4. And of course, key highlights strategically, financially are addressed on this page. First of all, transaction on Envalior closed. So the joint venture had a strong start emotionally bringing 2 leaders together and we alluded for the last 6 to 12 months that this will be happening and it happened.

Now to the business, Q2 was a very tough quarter. We saw that the business declined

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