FRANKFURT (dpa-AFX Broker) - Write-downs in the three-digit million euro range by Lanxess left a clear mark on the share price on Wednesday morning. On the trading platform Tradegate, the share price slipped by 3.5 percent to 23.27 euros. This is the lowest level since the beginning of December. The loss since the beginning of the year would thus grow to almost 20 percent.

The chemical company is taking write-downs in two business areas and on the minority stake in the joint venture Envalior. Lanxess also expects demand in the Flavors & Fragrances and Polymer Additives segments to be weaker than originally anticipated this year.

The latter suggests that the start to 2024 has been difficult in these business areas, wrote analyst Chetan Udeshi of JPMorgan. Write-downs on the Envalior investment also suggest that market concerns about high debt ratios and Lanxess' balance sheet are likely to persist./bek/mis