16.05.2017,
6212 Zeichen
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
Financial Figures/Balance Sheet/Quaterly Report/Company Information
Lenzing -
Revenue up 14.3 percent to EUR 586.2 mn\nEBITDA increase of 46.6 percent to EUR 135.1 mn\nNew sales offices established in Turkey and Korea\nFurther progress made on expanding production capacities for specialty fibers\nLenzing - The Lenzing Group got off to a very good start in the year 2017. It
succeeded in significantly improving first-quarter revenue and earnings and
thus achieved the best quarterly results in the company's history. The
corporate strategy sCore TEN will continue to be implemented in a disciplined
manner in order to further enhance customer intimacy and further expand the
offering of specialty fibers.
Compared to the prior-year quarter, consolidated revenue climbed 14.3 percent
in the first three months of 2017 to EUR 586.2 mn. This rise can be attributed
to higher selling prices related to the Chinese New Year as well as an improved
product mix, the reduction of inventories and more favorable currency exchange
rates. Consolidated earnings before interest, tax, depreciation and
amortization (EBITDA) were up 46.6 percent to EUR 135.1 mn, corresponding to an
EBITDA margin of 23 percent in comparison to 18 percent in the prior-year
period. Earnings before interest and tax (EBIT) of the Lenzing Group increased
by 72.1 percent to EUR 102.3 mn, resulting in a higher EBIT margin of 17.5
percent (Q1 2016: 11.6 percent). The profit for the period improved by 69.6
percent to EUR 75 mn, and earnings per share rose 67.9 percent to EUR 2.75 per
share.
"The first quarter of 2017 was the best in our company history. A key factor is
the disciplined implementation of our sCore TEN corporate strategy. The opening
of new sales offices in Turkey and Korea enables us to serve our customers more
effectively. We are progressing well with the expansion of our production
capacities for specialty fibers. This will support our customers in their own
expansion efforts by providing products made of our botanic fibers", states
Stefan Doboczky, Chief Executive Officer of the Lenzing Group. "Assuming that
fiber market conditions remain at current levels, we expect a substantial
earnings improvement this year compared to 2016."
Better customer support
The Lenzing Group opened up new sales and marketing offices in Turkey and
Korea. The direct contact to customers and well equipped showrooms featuring
products made of LenzingTM fibers serve as the basis for providing even better
support to our customers.
Expansion of production capacities for lyocell fibers has started off well
With the ground-breaking ceremony at the Lenzing Group's production site in
Heiligenkreuz, Burgenland (Austria), the end of March marked the beginning of
the construction phase to expand capacities for TENCEL® branded lyocell fibers.
As of mid-2018, customers will have an additional 25,000 tons of lyocell
specialty fibers at their disposal. The construction of the new production
facility for TENCEL® fibers in Mobile, Alabama (USA), has started already as
well and will be finished at the end of the first quarter of 2019. Lenzing is
currently examining several potential sites in Asia for a further lyocell
plant.
Outlook
The macroeconomic environment appears to be somewhat more favorable than in the
prior-year quarter, but continues to be impacted by political factors.
Developments on the fiber markets should be slightly more positive, but still
volatile. The wood-based cellulose fiber segment, which is relevant for
Lenzing, should again outpace the overall fiber market. The demand for these
wood-based cellulose fibers was very good at the beginning of 2017 with the
long-term trend pointing towards further growth in viscose and, above all,
wood-based cellulose specialty fibers. On the supply side, the market is not
expected to see the entry of any notable new production capacities in 2017.
Under the assumption of unchanged conditions in the fiber market and stable
exchange rates, the Lenzing Group confirms its expectation of achieving a
considerable improvement in results in the fiscal year 2017 compared to 2016.
Key Group indicators
(IFRS) 1-3/2017 1-3/2016(1)
in EUR mn
Revenue 586.2 512.8
Earnings before interest,
tax, depreciation and 135.1 92.2
amortization (EBITDA)
EBITDA margin in % 23.0 18.0
Earnings before interest 102.3 59.5
and tax (EBIT)
EBIT margin in % 17.5 11.6
Net profit for the period 75.0 44.2
CAPEX(2) 26.9 15.9
31.03.2017 31.12.2016
Adjusted equity ratio(3) 54.3 53.0
in %
Number of employees at 6,304 6,218
period-end
1) The figures were partially adjusted (for further details please refer to
"Notes on the Financial Performance Indicators of the Lenzing Group",
available at the following link
http://www.lenzing.com/Notes-Financial-Performance-
Indicators-Lenzing-Group-2017-Q1 [http://www.lenzing.com/Notes-Financial-
Performance-Indicators-Lenzing-Group-2017-Q1])
2) Capital expenditures: acquisition of intangible assets, property, plant and
equipment as per statement of cash flows
3) Ratio of adjusted equity to total assets in percent
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end of announcement euro adhoc
issuer: Lenzing AG
A-A-4860 Lenzing
phone: +43 7672-701-0
FAX: +43 7672-96301
mail: office@lenzing.com
WWW: http://www.lenzing.com
ISIN: AT0000644505
indexes: ATX, WBI
stockmarkets: Wien
language: English
Digital press kit: http://www.ots.at/pressemappe/1597/aom
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Lenzing
Akt. Indikation: 30.55 / 30.75
Uhrzeit: 11:00:32
Veränderung zu letztem SK: 0.00%
Letzter SK: 30.65 ( 0.66%)
Bildnachweis
1.
Lenzing Gruppe: 1.Halbjahr 2016, Seite 3/4, komplettes Dokument unter http://boerse-social.com/static/uploads/file_1656_lenzing_gruppe_1halbjahr_2016.pdf
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