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Markets News

Chemicals group Lanxess' narrows 2020 profit outlook

Nov 5 (Reuters) - German specialty chemicals maker Lanxess narrowed its 2020 core profit outlook range on Thursday after the coronavirus pandemic, planned shutdown in Belgium, reduced prices and adverse exchange rate effects burdened its third quarter.

It now sees full-year earnings before interest, tax, depreciation and amortization (EBITDA) excluding one-off items in the range of 820 million euros to 880 million euros ($962.43 million to $1.03 billion), compared to its previous forecast of 800 million to 900 million euros. ($1 = 0.8520 euros) (Reporting by Milla Nissi in Gdansk; Editing by Christian Schmollinger)

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