euro adhoc: Lenzing AG
Quarterly or Semiannual Financial Statements
/ The Lenzing Group: Preliminary Result for 2004
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15.03.2005
The Lenzing Group: Preliminary Result for 2004
Lenzing Experienced a Positive Development in 2004
? Asia continues to be the growth engine ? Proposed dividend: EUR 8 (after EUR 6)
Based on preliminary figures, the Lenzing Group improved all of its key figures regarding sales and income by double-digit percentages during the last business year 2004. Compared to the previous year, profit from ordinary activities before interest and income taxes (EBIT) according to IFRS increased to a record level of EUR 104.3 mill. (+ 16.3%). For the first time in its history, the company exceeded the EUR 100-million mark. The IFRS net profit before minority interests rose to EUR 78.0 mill. i.e. a 22.4% increase. With regard to sales, the Lenzing Group achieved an increase of 16.6%, to EUR 871.1 mill. The Management Board will propose a dividend increase to EUR 8 per share (from EUR 6 for 2003) to the Shareholders Meeting.
Significantly better production volumes in the fiber sector, the inclusion of the Tencel group of companies (which began in the second quarter), higher sales by Lenzing Technik, as well as an improved price level for fibers were the main factors contributing to the good development of the Group. Due to strong demand, it was possible to adjust prices in order to accommodate the higher raw-material costs.
Lenzing Technik, the systems-construction and engineering company, benefited from the favorable cyclical environment in the viscose and pulp industries and scored new record sales figures. The development at Lenzing Plastics also took a clearly positive direction.
Due to the weak cyclical situation of the industry, the unfavorable development of the paper sectors result could not be prevented, although intensive improvement measures were taken.
The Lenzing Group expects an extremely difficult market environment in 2005: Cotton prices are anticipated to go down, raw material costs will remain high, and the dollar/euro ratio will continue to be unfavorable - these are the key adverse factors that the fiber industry will face.
In EUR mill. ~ Lenzing Group 2004 preliminary 2003 Sales 871,1 747,2 EBITDA 160,4 134,8 EBIT 104,3 89,7 Net profit 78,0 63,7 EBITDA margin in % 18,4 18,0 EBIT margin in % 12,0 12,0 Equity ratio in % 48,5 45,3 ~
end of announcement euro adhoc 15.03.2005 08:04:15
Further inquiry note:
Lenzing AG
Mag. Angelika Guldt
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 07672-96301
mailto:a.guldt@lenzing.com
Branche: Chemicals
ISIN: AT0000644505
WKN: 064450
Index: WBI
Börsen: Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Wiener Börse AG / official dealing