16.11.2016, 5620 Zeichen



Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
9-month report
Revenue up 8.2 percent to EUR 1,578.4 mn\nEBITDA improvement of 52.2 percent to EUR 320.6 mn\nOperating cash flow doubled to EUR 374.9 mn\nInvestment programs for pulp and specialty fibers gain momentum\nLenzing, November 16, 2016 - The Lenzing Group generated a substantial increase in revenue and earnings in the first nine months of 2016, compared to the first nine months of 2015. Significant improvements of cash flow and thus reduction of net debt provide the basis for further investments and the implementation of the sCore TEN strategy.
Consolidated revenue rose by 8.2 percent in the first nine months of 2016 to EUR 1,578.4 mn year-on-year. Next to slightly higher sales volumes it was primarily higher selling prices of all three fiber generations - Viscose, Modal and TENCEL® - and a more attractive product mix that contributed to higher revenues. In the third quarter it was specifically the sharp increase in viscose prices that fueled the results.
Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) rose by 52.2 percent to EUR 320.6 mn. This corresponds to an EBITDA margin of 20.3 percent, up from 14.4 year-on-year. Earnings before interest and tax (EBIT) of the Lenzing Group almost doubled to EUR 221.7 mn. Accordingly, the EBIT margin increased to 14 percent from 7.7 percent previously. Earnings before tax (EBT) totaled EUR 207.1 mn, up 84.2 percent. The net profit for the period at EUR 162.1 mn was 91.1 percent higher than in the first three quarters of
2015. As a result, earnings per share increased 84.6 percent to EUR 5.98.

In the first nine months of 2016, the good business development resulted in a twofold increase in the operating cash flow to EUR 374.9 mn. Next to the very strong operational performance it was particularly good working capital management that fueled cash generation. As a consequence key balance sheet indicators further improved. At the end of September 2016, net financial debt fell to EUR 64.2 mn (December 31, 2015: EUR 327.9 mn). Net gearing was down to 4.9 percent from 26.9 percent previously.
The strong balance sheet supports the investment program already initiated: The expansion of specialty fiber production by 35,000 tons per year at the Heiligenkreuz, Lenzing and Grimsby sites is already underway. Investment volume will total about EUR 100 mn. In addition, pulp production will be modernized in Lenzing and Paskov by 2019, also at a cost of around EUR 100 mn. This will lead to additional capacities of approximately 35,000 tons annually.
"The Lenzing Group continues to implement the sCore TEN strategy with great discipline and the excellent business performance further helped our already strong balance sheet," says Stefan Doboczky, Chief Executive Officer of Lenzing AG. "These nine months underpin our confidence and are an excellent basis for the implementation of our ambitious growth program."
Outlook The macroeconomic environment remains volatile especially given the recent political events. Against this background the fundamentals of the wood-based cellulosic fiber industry should stay favorable in the mid-term. Lenzing expects however viscose prices to be notably lower than the high peaks of the third quarter due to seasonality effects. Under the assumption of unchanged positive fiber market conditions and foreign exchange rates Lenzing will deliver excellent business results in the financial year 2016.
Key Group indicators (IFRS) (in EUR mn) 01-09/2016 01-09/2015(1) Revenue 1,578.4 1,458.9 Earnings before interest, tax, depreciation and 320.6 210.6 amortization (EBITDA) EBITDA marginin % 20.3 14.4 Earnings before interest 221.7 112.0 and tax (EBIT) EBIT marginin % 14.0 7.7 Net profit/loss for the 162.1 84.8 period CAPEX(2) 64.2 44.3
30/09/2016 31/12/2015(1) Adjusted equity Ratio(3)in % 51,3 50.6 Trading working capital(4) 382,5 447.4 Number of employees at 6,140 6,127 period-end
1) The figures were partially adjusted (for further details please refer to the "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-2016-Q3). 2) Capital expenditures: Equals acquisition of intangible assets, property, plant and equipment as per statement of cash flows. 3) Ratio of adjusted equity to total assets as a percentage. 4) Inventories plus trade receivables less trade payables.

Photo download: https://mediadb.lenzing.com/pindownload/login.do?pin=DPFLR PIN: DPFLR


end of announcement euro adhoc

company: Lenzing AG


             A-A-4860 Lenzing
phone:       +43 7672-701-0
FAX:         +43 7672-96301
mail:        office@lenzing.com
WWW:         http://www.lenzing.com
sector:      Chemicals
ISIN:        AT0000644505
indexes:     WBI, ATX, Prime Market
stockmarkets: official market: Wien
language:    English




Digital press kit: http://www.ots.at/pressemappe/1597/aom



  
  



 BSN Podcasts


      Christian Drastil: Wiener Börse Plausch
      
         



        
Wiener Börse Party #651: Addiko mit höflichem neuen Bieter, Polytec stark, dazu Inputs & Ideen von Wolfgang Plasser (Pankl)
        
      








        


        Lenzing




Akt. Indikation:      35.60 /     36.10

Uhrzeit:  23:00:42

Veränderung zu letztem SK:       0.14%

Letzter SK:     35.80 (   0.14%)







 

 
 BSNgine
 
      

        
          
          
               
          
          Top/Flop Diashows
        
      
      

        
          
          
               
          
          Star/Rutsch der Stunde
        
      
      

        
          
          
               
          
          Matrix
          


        
      
      

        
          
          
               
          
          Moving Averages
          


        
      
      

        
          
          
               
          
          Märkte/ Indikationen
        
      

      


      

        
          
          
               
          
          Tagessieger/ verlierer
        
      
      

        
          
          
               
          
          „n“ Tage Top/Flop
        
      
      

        
          
          
               
          
          Umsatz
        
      
      

        
          
          
               
          
          BS-Hitparade
        
      
      

        
          
          
               
          
          Reporting Days
        
      

  
  

  



    

        
Bildnachweis
        

          
          1.
          Lenzing investiert in Österreich über 100 Mio. Euro, Seite 1/2, komplettes Dokument unter http://boerse-social.com/static/uploads/file_1554_lenzing_investiert_in_osterreich_uber_100_mio_euro.pdf
             >> Öffnen auf photaq.com
          
          


        
  

    
Aktien auf dem Radar:FACC, Rosenbauer, AT&S, Amag, Flughafen Wien, Frequentis, Addiko Bank, Rosgix, Palfinger, Pierer Mobility, Erste Group, Österreichische Post, Marinomed Biotech, Gurktaler AG Stamm, Polytec Group, S Immo, Agrana, CA Immo, EVN, Immofinanz, Kapsch TrafficCom, OMV, Telekom Austria, Uniqa, VIG, Wienerberger.
    
 



  

  
Random Partner


    

        
            
                
            
        
    
    

        

            Frequentis

            Frequentis mit Firmensitz in Wien ist ein internationaler Anbieter von Kommunikations- und Informationssystemen für Kontrollzentralen mit sicherheitskritischen Aufgaben. Solche „Control Center Solutions" entwickelt und vertreibt Frequentis in den Segmenten Air Traffic Management (zivile und militärische Flugsicherung, Luftverteidigung) und Public Safety & Transport (Polizei, Feuerwehr, Rettungsdienste, Schifffahrt, Bahn). 
        
    
    
>> Besuchen Sie 68 weitere Partner auf boerse-social.com/partner


 


      

            

                Mehr aktuelle OTS-Meldungen HIER
            
  


      

          
Useletter
          

          Die Useletter "Morning Xpresso" und "Evening Xtrakt" heben sich deutlich von den gängigen Newslettern ab.
          Beispiele ansehen bzw. kostenfrei anmelden. Wichtige Börse-Infos garantiert.

Newsletter abonnieren
          
          
Runplugged
          

            Infos über neue Financial Literacy Audio Files für die Runplugged App
            
(kostenfrei downloaden über http://runplugged.com/spreadit)
            

per Newsletter erhalten