Lanxess narrows 2026 guidance to upper end of range

Lanxess has revised its guidance for 2026 adjusted EBITDA to the upper end of its forecast range, narrowing the previous €450 million to €550 million range to €450 million to €500 million. The company expects continued positive free cash flow in the fourth quarter and reported a 4% increase in its third quarter adjusted EBITDA to €139 million, surpassing analyst expectations by 1%.

Sales grew by 2% compared to analyst estimates, reaching €1,467 million. The Specialty Additives division, which posted a 28% increase in adjusted EBITDA to €71 million, saw a 12% organic sales growth. On the other hand, the Advanced Intermediates division experienced a 20% decrease in adjusted EBITDA to €25 million, while the Consumer Protection division saw a slight 1% drop to €67 million.

Operating cash flow reached €124 million in the third quarter, up from €50 million in the same period last year, and free cash flow amounted to €48 million, a significant improvement from the negative €14 million in the third quarter of 2025. Net financial debt stood at €2,011 million, with a debt-to-adjusted EBITDA ratio of 4.1 times, a decrease from 4.4 times in the previous quarter.

The company anticipates continued cost streamlining, support from EU anti-dumping measures, seasonally weaker fourth-quarter performance, and the impact of low Rhine River water levels at the beginning of the quarter for its fourth-quarter outlook.