EANS-Adhoc: Lenzing AG Preliminary 2019 result below prior year?s level
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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Financial Figures/Balance Sheet/Strategic Management Decisions
27.01.2020
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* Focus on growing lyocell capacities in Thailand triggers impairment of
engineering costs in the USA
* Operational headwinds and one-off result in declined net profit
Lenzing - The Management Board has decided to focus in the coming years on
expanding its lyocell production capacities in Asia, where Lenzing's greenfield
project in Thailand is progressing well. Consequently, engineering costs related
to the mothballed US lyocell fiber expansion will be fully written off. In
addition, viscose prices continued to decline throughout the year, currently
trading at historically unprecedented low levels. This unfavorable price
development affected the Group's operating performance.
Based on the above, the Lenzing Group's preliminary, unaudited results for 2019
lead to a full-year revenue of EUR 2.11 bn (2018: EUR 2.18 bn), an EBITDA of EUR
327 mn (2018: EUR 382 mn) and a net profit of EUR 114 mn (2018: EUR 148 mn). The
Lenzing Group's full year results for 2019 will be published on March 12, 2020.
Further inquiry note:
Filip Miermans
Vice President Corporate Communications & Investor Relations
Lenzing AG
Telefon: +43 7672 701 2743
E-Mail: f.miermans@lenzing.com
end of announcement euro adhoc
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issuer: Lenzing AG
A-4860 Lenzing
phone: +43 7672-701-0
FAX: +43 7672-96301
mail: office@lenzing.com
WWW: http://www.lenzing.com
ISIN: AT0000644505
indexes: WBI, ATX
stockmarkets: Wien
language: English