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LANXESS Stock

The price of LANXESS stock showed a very pleasing trend in the third quarter. In September, particularly, it traded well above €60, reaching its highest level since the company’s initial listing. Our stock also outperformed the DAX, MDAX and Dow Jones STOXX 600 ChemicalsSM indices with a gain of around 30% for the period.

Germany’s lead index, the DAX, made substantial gains during the quarter. From September on, it stayed well above 7,000 points and also reached more than 7,400 points, its highest level in over a year. The DAX had shown a loss for the previous quarter, but ended the third quarter a substantial 12.5% higher. The MDAX also performed well, having trended downward in the second quarter. On the quarter-end date of September 28 it stood at 10,978 points for a gain of 6.1%. The performance of LANXESS’s reference index, the Dow Jones STOXX 600 ChemicalsSM, was likewise favorable, with a 13.5% gain for the period to 634 points. Starting in September, the positive mood on the equity markets was mainly driven by the European Central Bank’s decision to allow unlimited purchases of euro crisis countries’ government bonds. Also in September, further positive impetus for the stock market came from the ruling by Germany’s Federal Constitutional Court on the country’s participation in the euro bailout fund and the announcement by the U.S. Federal Reserve that it would start buying mortgage bonds again. At the beginning of the fourth quarter, however, market optimism was dampened by renewed concerns about the economy. The International Monetary Fund (IMF), for example, lowered its global growth forecast and expressed doubts about the development of the world economy going forward.

After the loss sustained in the previous quarter, our stock performed very well in this environment, reaching an all-time intraday high of €68.90. It closed the quarter on September 28 at €64.53. Apart from the increase for the quarter, LANXESS stock posted a substantial gain of more than 61% for the nine-month period, clearly outperforming the DAX, MDAX and DJ STOXX 600 ChemicalsSM.

The upward trend in our share price during the third quarter was supported by the generally positive market sentiment and our own corporate newsflow. At our Capital Markets and Media Days in September, for example, we presented our new financial targets. Our new mid-term earnings goal is to achieve EBITDA pre exceptionals of €1.8 billion in 2018. We also announced that we plan to achieve the earnings target previously set for 2015 a year earlier. In addition, central growth projects have been initiated to help us achieve these goals. They include the new production facility for neodymium-catalyzed performance butadiene rubber (Nd-PBR) under construction in Singapore, where we broke ground in September. The plant is due on stream in the first half of 2015 to service Asian demand for high-performance rubber from Singapore. Another important project that we announced in September is the start of construction on the world’s largest plant for EPDM synthetic rubber in Changzhou, China. This facility is also scheduled for start-up in 2015.

LANXESS in the DAX

Our stock became part of Germany's benchmark index, the DAX, effective September 24. The decision by Deutsche Börse to include LANXESS in the German benchmark index was made in conjunction with the scheduled DAX adjustment in September. The deciding factors were that as of the cut-off date – the last trading day in August – LANXESS ranked among the 30 largest German companies in terms of market capitalization and in terms of trading volume over a specific period. Prior to this, LANXESS had been a member of the midcap index MDAX since June 2005 following its initial listing in Frankfurt on January 31, 2005.

LANXESS Stock Performance vs. Indices
Chart: LANXESS Stock Performance vs. Indices
LANXESS Stock
           
    Q4 2011 Q1 2012 Q2 2012 Q3 2012
           
Capital stock/no. of shares1) €/no. of shares 83,202,670 83,202,670 83,202,670 83,202,670
Market capitalization1) € billion 3.32 5.16 4.14 5.37
High/low for the period 46.90/31.34 63.80/40.17 64.40/45.75 68.90/49.31
Closing price1) 40.00 61.98 49.72 64.53
Trading volume million shares 33.753 38.106 39.490 37.270
Earnings per share 0.06 2.32 2.11 1.13
1) End of quarter: Q4: December 31, 2011, Q1: March 31, 2012, Q2: June 30, 2012, Q3: September 30, 2012
Reported Holdings of 3% or Above by Institutional Investors * (as of October 15, 2012)
   
BlackRock 9.99%
Dodge & Cox 9.93%
Norges Bank (central bank of Norway) 3.004%
* The reported shareholdings may include interests held by multiple entities that have all submitted voting rights notices.  
Chart: Analyst Recommendations as of February 15, 2012
Chart: Analyst Recommendations as of October 15, 2012

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