EANS-News
Lenzing AG / Lenzing Group: Substantial Revenue and Earnings Increase in First Half-Year 2016
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Anzeige
6-month report
- Revenue up 8.3% to EUR 1,034.8 mn
- EBITDA rose 54.3% to EUR 195.1 mn
- Free cash flow tripled to EUR 228.3 mn
- Expansion program for specialty fiber production capacities started
Lenzing, August 24, 2016 - The Lenzing Group significantly improved
earnings in the first half-year 2016 compared to the first half-year
2015. The disciplined implementation of the new group strategy sCore
TEN with a clear focus on profitable growth based on environmentally
friendly specialty fibers impacts already noticeably the company's
business results. The Lenzing Group significantly increased revenue
and profitability and substantially improved the cash flow whilst
continuing the reduction of net debt.
At largely unchanged production volumes, consolidated revenue rose
8.3% to EUR 1,034.8 mn as a consequence of higher fiber selling
prices and an attractive product mix compared to the first half-year
of 2015. The Lenzing Group also profited from the increase of spot
market prices for viscose fibers. Consolidated earnings before
interest, tax, depreciation and amortization (EBITDA) improved by
54.3% to EUR 195.1 mn, boosting the EBITDA margin to 18.9% compared
to the prior-year level of 13.2%. Earnings before interest and tax
(EBIT) more than doubled to EUR 129.7 mn. The EBIT margin increased
to 12.5%, up from 6.3% in the previous year. The net profit for the
period increased by 83.9% to EUR 94.6 mn, and earnings per share were
up 76.2% to EUR 3.49. The Lenzing Group continues to show strong cash
generation momentum. The cash flow from operating activities more
than doubled to EUR 268.8 mn compared to the prior-year period. The
free cash flow rose three-fold to EUR 228.3 mn.
"The Lenzing Group looks back at a very successful first half-year
2016", says Stefan Doboczky, Chairman of the Management Board and CEO
of Lenzing AG. "On the one hand, we benefitted from a positive market
environment. On the other hand, we continued our implementation of
sCore TEN, our new group strategy, in a very disciplined and intense
fashion. We further optimized the product mix and profited from
higher selling prices thanks to ongoing strong demand for all Lenzing
fibers. All this was clearly reflected in our half-year 2016
business results, and therefore we also expect a substantial
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte