08.05.2019,
8483 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/Quarterly Report
Highlights -
Very positive development of the specialty fiber business with a 47 percent share in revenue\nMarket environment for standard viscose still very tight\nResolution on dividend: EUR 3.00 plus special dividend of EUR 2.00 per share\nOutlook confirmed: Earnings for 2019 expected at a similar level as in 2018\nLenzing - The Lenzing Group continued its solid development in the first quarter
of 2019. Despite a much tighter market environment, the Lenzing Group even
recorded a slight increase in revenue, proving once again that it has chosen the
right path with its sCore TEN corporate strategy. The declining prices for
standard viscose were largely offset in earnings.
Group revenue rose by 1.8 percent to EUR 560 mn in the first quarter of 2019
compared with the same quarter of 2018. This increase is primarily attributable
to a better product mix - the share of specialty fibers in revenue of 47.3
percent significantly exceeded the prior-year value of 42.1 percent - and more
favorable exchange rates. Consequently, declining prices for standard viscose
were more than offset. EBITDA (earnings before interest, tax, depreciation and
amortization) dropped by 9.5 percent to EUR 92 mn. In addition to the market
environment for standard viscose, this was primarily caused by currency effects,
which burdened material and personnel costs. The EBITDA margin dropped from 18.5
percent in the first quarter of 2018 to 16.4 percent in the reporting period.
EBIT (earnings before interest and tax) fell by 21.1 percent to EUR 54.4 mn,
leading to a lower EBIT margin of 9.7 percent (01-03/2018: 12.5 percent). Net
profit for the period dropped by 14.5 percent from EUR 50 mn in the previous
year to EUR 42.8 mn. Earnings per share amounted to
EUR 1.65 (01-03/2018: EUR 1.89).
The 75th Annual General Meeting of Lenzing AG on April 17, 2019 resolved to
distribute a dividend of EUR 3.00 per share as well as a special dividend
totaling EUR 2.00 per share.
"Our specialty fiber business is still developing very well, which has made us
significantly more resilient today than only a few years ago. In order to become
even more resistant to market fluctuations, we continue to advance the
implementation of the sCore TEN strategy and the planned major projects in
Brazil and Thailand with great discipline", says
Stefan Doboczky, Chief
Executive Officer of the Lenzing Group.
Zwtl.: Expansion of pulp and lyocell capacities
CAPEX (acquisition of property, plant and equipment) dropped by 22.4 percent to
EUR 45.7 mn in the first quarter of 2019. This decline is attributable to the
completion of the expansion project in Heiligenkreuz (Austria) in 2018 and the
ongoing planning for the major projects in Brazil and Thailand, which will only
have an effect on the investment volume in the coming quarters. The basic
engineering for the construction of the new lyocell plant in Prachinburi, near
Bangkok, is making equally good progress as the planned establishment of the
pulp plant in Minas Gerais.
Zwtl.: Heiligenkreuz at full capacity again
At the site in Heiligenkreuz a fire occurred on February 1, 2019 causing a
shutdown of the lyocell production for several weeks. Material damage and the
damage resulting from the interruption of operations are covered by insurance.
Production at the site is now running at full capacity again.
Zwtl.: Even greater focus on innovation and customer intimacy
Lenzing also continues to intensify its collaboration with next generation
fashion designers in Asia. Recently, with the TENCEL(TM) Studio, a design center
featuring fashion from TENCEL(TM) fibers was opened in Singapore. The center is
the next step in the effort to give consumers an insight into innovations and
new applications. In the area of nonwovens, another milestone was set with the
start of the establishment of an innovation center in Germany. The new test
facility, which is being set up in cooperation with the Hof University of
Applied Sciences, enables Lenzing to work even more closely with its customers
and partners in the hygiene, cosmetics and medical industries.
Zwtl.: Sustainability: Partner for Change
For the Lenzing Group, sustainability is not only a core value of the corporate
strategy but also a key business driver and stimulus for innovation. The focus
of the Sustainability Report 2018, which was published in March of this year, is
on the wide range of activities the company is engaged in pursuing its mission
of greening up the value chain. The Report is entitled "Partner for Change",
with the most recent example of this concept being the cooperation with the
Swiss retailer Coop and the Austrian supermarkets of REWE International AG.
Together their new reusable net bags for fruit and vegetables, Lenzing and its
partners offer consumers an eco-friendly alternative to plastic packaging.
Reusable net bags made from LENZING(TM) modal fibers offer a significant
ecological advantage over conventional plastic packaging because of their
natural origin, which makes them biodegradable and compostable.
Zwtl.: Outlook
The International Monetary Fund expects a slowdown of global economic growth to
3.3 percent in 2019, mainly driven by increasing protectionist tendencies and
growing geopolitical tensions. The currency environment in the regions relevant
to Lenzing will remain volatile.
Demand on the global fiber markets is still positive. According to preliminary
calculations, cotton inventory levels should decline slightly again in 2019.
Over the past months, the polyester market recovered from slower growth at the
beginning of the reporting year. The price levels for cotton and polyester are
expected to remain stable. Capacity expansions for standard viscose should
remain at a similar level as in the 2018 financial year. Despite strong demand,
this will result in growing oversupply, which will cause even higher pressure on
prices. The Lenzing Group expects the positive development of its specialty
fiber business to continue.
Caustic soda prices in Asia have already declined significantly over the past
months; however, there are no signs of such a development in Europe yet.
Overall, Lenzing does not expect any significant changes for key raw materials
that would be relevant to earnings.
Based on the current exchange rates, the Lenzing Group continues to expect its
results for 2019 to reach a similar level as in 2018 despite a much tighter
market environment for standard viscose. These developments reassure the Lenzing
Group in its chosen corporate strategy sCore TEN. Lenzing is very well
positioned in this market environment and will continue its consistent focus on
growth with specialty fibers.
Key group indicators
(IFRS) 01-03/2019 01-03/2018
(in EUR mn)
Revenue 560.0 550.3
Earnings before interest,
tax, depreciation and 92.0 101.6
amortization (EBITDA)
EBITDA margin in % 16.4 18.5
Earnings before interest 54.4 68.9
and tax (EBIT)
EBIT margin in % 9.7 12.5
Net profit for the period 42.8 50.0
CAPEX1 45.7 58.9
31/03/2019 31/12/2018
Adjusted equity ratio2 in 58.6 59.0
Number of employees 6,876 6,839
1) Capital expenditures: i.e. acquisition of intangible assets, property, plant
and equipment as per statement of cash flows
2) Ratio of adjusted equity to total assets in percent
Photo Download:
https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=mIssXYVDEEw0 [https://
mediadb.lenzing.com/pinaccess/showpin.do?pinCode=mIssXYVDEEw0]
PIN: mIssXYVDEEw0
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
BSN Podcasts
Christian Drastil: Wiener Börse Plausch
SportWoche Podcast #122: Hans Huber über Vienna-Fan Richard Lugner (1932-2024), Frauen und den Erfinder der Mörtel-Bezeichnung
Lenzing
Akt. Indikation: 31.25 / 31.50
Uhrzeit: 22:59:15
Veränderung zu letztem SK: 0.08%
Letzter SK: 31.35 ( 0.32%)
Bildnachweis
1.
Stephanie Kniep zeigt 2x die 3. Lenzing ist heute vor 33 Jahren an die Wiener Börse gegangen
>> Öffnen auf photaq.com
Aktien auf dem Radar:Rosenbauer, FACC, CA Immo, Warimpex, Addiko Bank, Lenzing, Wienerberger, ams-Osram, Immofinanz, OMV, RBI, voestalpine, Josef Manner & Comp. AG, Marinomed Biotech, Oberbank AG Stamm, Flughafen Wien, Pierer Mobility, Kapsch TrafficCom, Agrana, Amag, Erste Group, EVN, Österreichische Post, RHI Magnesita, S Immo, Telekom Austria, Uniqa, VIG, Bayer, Hannover Rück, Siemens Healthineers.
Captrace
Captrace ist ein führender Anbieter von Informationssystemen im Bereich Investor Relations. Mit seinem System C◆Tace ermöglicht das Unternehmen dem Emittent größtmögliche Transparenz über seine Investorenstruktur zu erhalten. Durch den Service der Aktionärsidentifikation können Emittenten die Daten ihrer Investoren einfach und zuverlässig über das System C◆Trace von den Banken/Intermediären abfragen.
>> Besuchen Sie 68 weitere Partner auf boerse-social.com/partner
Mehr aktuelle OTS-Meldungen HIER