FRANKFURT (Reuters) - German chemicals group Lanxess (LXSG.DE: Quote, Profile, Research, Stock Buzz) is still comfortable with its profit target for last year and its margin target for 2006, Chief Financial Officer Matthias Zachert said at the Reuters Chemicals Summit.
Lanxess will be reporting its 2005 figures on April 4 and has said it aims for earnings before interest, tax, depreciation and amortization pre-exceptionals of 560-580 million euros ($675-700 million US) for the full year.
"The 560-580 million euro estimate has been done on a fair set of analyses and I still feel comfortable with it," Zachert said at the summit at the Frankfurt office of Reuters.
He also reiterated that the company targeted an EBITDA margin before special items of 9-10 percent this year based on 2004 sales levels.
Zachert said the company was likely to give fresh targets at the time of its third-quarter results.
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