Leverkusen – German chemicals company Lanxess AG will publish preliminary sales and earnings figures for fiscal 2004 at 7:30 am CET (6:30 am GMT) on March 15, 2005. It is planned to announce Group data, ie without a breakdown by segment. A conference call with analysts is scheduled for 3:00 pm CET (2:00 pm GMT) that afternoon. This will be broadcast on the Lanxess Investor Relations website.
The disclosure is driven by the fact that Lanxess will be publishing their preliminary figures as ‘Combined Financial Statements’ which represent the company as if they had already existed in the past in the structure defined for the spin-off. In contrast, Bayer – as also in the past – will report Lanxess as ‘Discontinuing Operations’ (ie as a reporting segment of the Bayer Group) in their figures for fiscal 2004 that will be published on March 15. The different reporting structures will result in variations in the sales and earnings figures, as in the first three quarters of 2004. These variations are mainly attributable to business transactions between the Bayer and Lanxess groups and to the costs of the separate Lanxess Corporate Center.
The Lanxess Spring Financial News Conference will take place in Cologne, Germany, on April 26, 2005.
