Ad hoc according to Art. 17 paragraph 1 MAR

LANXESS signs contract to sell Urethane Systems business for an enterprise value of €460 m to UBE Corporation - proceeds will be used to reduce net financial debt

 

Specialty chemicals company LANXESS signed a contract to sell its Urethane Systems business to UBE Corporation on 3^rd October, 2024. The enterprise value amounts to €460 m with expected proceeds of around €500 m. With this transaction LANXESS exits the last remaining polymer business.

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. The Urethane Systems business generated sales of around €250 m last twelve months June 2024.

LANXESS will use the proceeds to reduce its net debt. The leverage ratio (net debt / EBITDA pre) will likely be reduced by ~0.5x.

The transaction remains subject to the approval of the relevant authorities. LANXESS expects the transaction to close in the first half of 2025.

Cologne, 3^rd October 2024

Forward-Looking Statements

This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.

Contact:
André Simon

LANXESS AG
Head of Investor Relations

Kennedyplatz 1
50569 Köln, Deutschland
Phone: +49 175 30 23494
E-Mail: andre.simon@lanxess.com