Lenzing AG: Lenzing adjusts earnings forecast due to one-off effects from restructuring, currency effects and further deterioration in market environment
December 19, 2022 at 10:44 am EST
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EQS-Ad-hoc: Lenzing AG / Key word(s): Forecast
Lenzing AG: Lenzing adjusts earnings forecast due to one-off effects from restructuring, currency effects and further deterioration in market environment
19-Dec-2022 / 16:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Lenzing – The Lenzing Group, the world’s leading supplier of specialty fibers for the textile and nonwovens industries, is adjusting its earnings forecast for the 2022 financial year due to one-off effects related to the accelerated savings program as well as currency effects and a further deterioration of the market environment. Lenzing expects its earnings before interest, tax, depreciation and amortization (EBITDA) to be around EUR 250 mn, which is below market expectations.
Your contact for Public Relations:
Dominic Köfner
Vice President Corporate Communications & Public Affairs
Lenzing Aktiengesellschaft
Werkstraße 2, 4860 Lenzing, Austria
Lenzing AG is one of the world's leading producers of cellulose fibers for use in the textile and non-woven industries. Net sales break down by activity as follows:
- sale of fibers (81.6%);
- sale of pulp (18.2%);
- other (0.2%).
Net sales are distributed geographically as follows: Austria (5.2%), Europe (29%), Asia (55.9%), Americas (9.3%) and other (0.6%).
Lenzing AG: Lenzing adjusts earnings forecast due to one-off effects from restructuring, currency effects and further deterioration in market environment