Lenzing Group 1Q 2017 results: EBITDA up 46.6% from year ago to Euro 135.1 million
LENZING, Austria, May 16, 2017-
The Lenzing Group got off to a very good start in the year 2017. It succeeded in significantly improving first-quarter revenue and earnings and thus achieved the best quarterly results in the company’s history. The corporate strategy sCore TEN will continue to be implemented in a disciplined manner in order to further enhance customer intimacy and further expand the offering of specialty fibers.
Compared to the prior-year quarter, consolidated revenue climbed 14.3 percent in the first three months of 2017 to EUR 586.2 mn. This rise can be attributed to higher selling prices related to the Chinese New Year as well as an improved product mix, the reduction of inventories and more favorable currency exchange rates. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) were up 46.6 percent to EUR 135.1 mn, corresponding to an EBITDA margin of 23 percent in comparison to 18 percent in the prior-year period. Earnings before interest and tax (EBIT) of the Lenzing Group increased by 72.1 percent to EUR 102.3 mn, resulting in a higher EBIT margin of 17.5 percent (Q1 2016: 11.6 percent). The profit for the period improved by 69.6 percent to EUR 75 mn, and earnings per share rose 67.9 percent to EUR 2.75 per share.
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