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LANXESS Stock

Our stock started the third quarter below €50, briefly surpassing this level again in early September. However, the price dipped again toward the end of the reporting period, and LANXESS stock closed on September 30 at €47.98 for a gain of 3.7% on the quarter.

Germany’s lead index DAX reached a record high in the third quarter of 2013, topping 8,000 points in early July after ending the previous quarter at 7,959 points. During the third quarter the index continued to gain, sometimes substantially, reaching a high of over 8,600 points in September. Positive economic data from Germany and other eurozone countries continued to drive the DAX at the beginning of the period, while from September onward it was mostly news from the United States that led to fresh records. For example, the U.S. Federal Reserve announced that it would keep its bond purchases at current levels to support the economy. In addition, hope for a diplomatic solution regarding the conflict in Syria and thus the avoidance of U.S. military intervention gave rise to distinct optimism on the stock markets. Thus two major issues that had weighed on the markets for some time – the Fed’s monetary policy and Syria – saw some progress in the third quarter. The DAX closed on September 30 at 8,594 points, up nearly 8%.

LANXESS’s benchmark index, the Dow Jones STOXX 600 ChemicalsSM, which had performed poorly in the preceding quarter to close at 670 points, gained more than 30 points in the third quarter. It closed on September 30 at 705 points, up 5.2% on the period.

LANXESS stock did not benefit in the third quarter from the generally positive market environment, as capital market participants focused primarily on the company’s own corporate newsflow. At the beginning of August, we reported on a persistently challenging market environment and released sales and earnings figures for the second quarter of 2013 that were below the prior-year period. We also reiterated our view that demand would remain weak for the rest of the year and, on that basis, predicted that EBITDA pre exceptionals for the full year 2013 would come in at between €700 million and €800 million. Upon publication of our second-quarter results we announced that additional steps would be taken to increase our competitiveness. These measures were then presented in mid-September at our Media Day and an analysts’ meeting. Our “Advance” program is designed to achieve annual savings of €100 million from 2015 onward. The capital market responded favorably to this announcement of measures to address the current challenges. Our stock reached its high for the quarter of €53.16 around that time, but was unable to sustain this level and finished the quarter at €47.98. Not until the beginning of the current fourth quarter did the price rise above €50 once again.

Despite an increase of 3.7%, LANXESS stock underperformed the DAX and DJ STOXX 600 ChemicalsSM, which profited from very positive overall market sentiment.

A summary of other developments at LANXESS during the third quarter is provided in the "Highlights" section.

LANXESS Stock
           
    Q4 2012 Q1 2013 Q2 2013 Q3 2013
           
Capital stock/no. of shares 1) €/no. of shares 83,202,670 83,202,670 83,202,670 83,202,670
Market capitalization 1) € billion 5.51 4.60 3.85 3.99
High/low for the period 68.83/59.33 68.59/54.19 59.15/44.91 53.16/42.45
Closing price 1) 66.27 55.32 46.28 47.98
Trading volume million shares 33.257 50.561 61.358 57.833
Earnings per share 0.62 0.30 0.11 0.13
1) End of quarter:
Q4: December 31, 2012; Q1: March 31, 2013; Q2: June 30, 2013; Q3: September 30, 2013
Stock Performance vs. Indices
Graph: Stock Performance vs. Indices
Analyst Recommendations as of July 20, 2013
Diagram: Analyst Recommendations as of July 20, 2013
Analyst Recommendations as of Oktober 22, 2013
Diagram: Analyst Recommendations as of Oktober 22, 2013

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