EANS-News
Lenzing AG / Lenzing Group achieves best full-year results in its history
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Corporate news 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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Corporate news 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/Annual Result/Company Information
Highlights -
* Revenue increased by 5.9 percent to EUR 2.26 bn
* EBITDA up 17.3 percent to EUR 502.5 mn
* Dividend proposal of EUR 3.00/share plus a special dividend of EUR 2.00/share
* New brand strategy to generate a strong message to consumers
* Limited visibility for coming quarters
Lenzing - In 2017, the Lenzing Group reports its best financial performance ever
with record revenue and earnings due to a better product mix and higher selling
prices in combination with a generally favorable market environment.
Group revenue grew by 5.9 percent in the 2017 financial year to EUR 2.26 bn
(2016: EUR 2.13 bn). Group earnings before interest, tax, depreciation and
amortization (EBITDA) improved by 17.3 percent to EUR 502.5 mn (2016: EUR 428.3
mn). The corresponding EBITDA margin rose to 22.2 percent (2016: 20.1 percent).
Earnings before interest and tax (EBIT) increased by 25.2 percent to EUR 371 mn,
resulting in a higher EBIT margin of 16.4 percent (2016: 13.9 percent). The net
profit for the year totaled EUR 281.7 mn, a rise of 23 percent from the prior-
year figure of EUR 229.1 mn. Earnings per share in the 2017 financial year
amounted to EUR 10.47 (2016: EUR 8.48).
The Management Board and the Supervisory Board will propose at the upcoming
Annual General Meeting a stable dividend of EUR 3.00 per share plus an increased
special dividend of EUR 2.00 per share (2016: EUR 1.20 per share). In total, the
dividend will amount to EUR 5.00 per share, corresponding to a dividend payment
to shareholders of EUR 132.75 mn.
"The Lenzing Group looks back at a very successful year 2017. We continued to
implement our corporate strategy sCore TEN with great discipline and focus on
our investment projects and successfully captured value in a positive market
environment. Our commitment to innovation and customer centricity was
underpinned by the opening of an application innovation center in Hong Kong and
the creation of the new sales and marketing office in Turkey. In line with sCore
TEN we decided to revamp our brand architecture and image to sharpen Lenzing's
corporate and product profiles for customers and consumers. We want to put a
stronger emphasis on our ambition to make the textile and nonwoven market more
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