lanxess ag shares fell wednesday after the company reported a decline in 2022 net profit and warned that it expects a recessionary business environment in the first half of this year the german specialty chemical company said persistently high energy prices will have an effect on performance in the start of 2023 it added that preexceptional earnings before interest taxes depreciation and amortization this year are expected to be in line with the 930 million euros 9981 million it made in 2022 it added that for the first quarter of 2023 preexeptional ebitda is expected between eur180 million and eur220 million lanxess made eur320 million in preexceptional ebitda in the first quarter of 2022 2023 will not be easier the reduced demand that we already felt in the final quarter of 2022 is currently continuing in the new year chief executive matthias zachert said the company swung to a eur21 million net loss in fourth quarter net income compared with eur29 million in the prioryear period and saw its 2022 profit decline to eur250 million compared with eur267 million in 2021 lanxesss fourthquarter ebitda margin declined onyear to 89 from 102 due to idle costs from inventory management and the passthrough of higher costs warburg research analyst oliver schwarz said in a research note the hit to ebitda margin was mostly visible in the advanced intermediates segment which recorded a yoy increase of sales by 6 but a drop in volumes by 22 resulting in a 29 decline of ebitda pre to eur65 million he said