LNXSY - LANXESS Aktiengesellschaft (LNXSF) Q4 2023 Earnings Call Transcript
2024-03-14 14:22:02 ET
LANXESS Aktiengesellschaft (LNXSF)
Q4 2023 Results Conference Call
March 14, 2024 7:30 AM ET
Company Participants
Eva Frerker - Head of Investor Relations
Matthias Zachert - CEO & Chairman of the Board of Management
Oliver Stratmann - CFO & Member of the Management Board
Conference Call Participants
Jonathan Chung - Morgan Stanley
Chetan Udeshi - JPMorgan
Jaideep Pandya - On Field Research
Tristan Lamotte - Deutsche Bank
Anil Shenoy - Barclays
Konstantin Wiechert - Baader Helvea
Martin Roediger - Kepler Cheuvreux
Matthew Yates - Bank of America
Presentation
Operator
Hello and welcome to the Lanxess Q4 Full Year 2023 Results Investor Relations Call. Throughout the call, all participants will be in a listen-only mode and afterwards there will be a question-and-answer session. Please note this call is being recorded.
Today I'm pleased to present Eva Frerker. Please begin your meeting.
Eva Frerker
Thank you, Anika, and a warm welcome also from our side. Thank you for joining the Lanxess's Q4 earnings call.
As always, we begin by asking you to take notice of our Safe Harbor statement. With me today is our CEO, Matthias Zachert; and our CFO, Oliver Stratmann. Matthias will start with a short presentation and then we will open the floor for your questions.
I will now hand over to Matthias. Please go ahead.
Matthias Zachert
Thank you, Eva, and welcome to all participants on this conference call.
I would like to start our presentation on Slide 4, going through the documents that have been dispatched on our Internet. 2023 was definitely a tough year. We've talked about a multi-crisis year with negative impacts from destocking that was quite severe throughout 2023, a soft end market demand in our industries. Competitiveness-wise, especially Europe and notably Germany suffered from escalation in energy prices and therefore it was definitely a year that in the last few decades we have not seen to this extreme levels. Despite that and despite the impacts and turbulences we were confronted with, I think we made right strides in the right direction. This relates to our portfolio transformation, putting in value in place, closing the transactions in April 2023 was a major step to advance into the direction of a pure chemical play. Several years ago, our portfolio was polymer dominated, this is history. But now we have to make sure that new leadership businesses we have built in chemicals are also delivering on the financial performance that this portfolio should achieve....
LANXESS Aktiengesellschaft (LNXSF) Q4 2023 Earnings Call Transcript