Lenzing AG — Earnings Release 2001

Nov 9, 2001

News Details

Ad-hoc | 9 November 2001 08:34

Lenzing AG english

The Lenzing Group 1-9/2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– THE LENZING GROUP 1-9/2001 A Good Development in spite of a Difficult Market Environment Slight increase of EBITDA and EBIT – Earnings before taxes and minority interest (EBT) almost unchanged – Sales increased by 6% – Difficult market environment and high raw-material costs – Positive business development continues. After the record results obtained in the year 2000, the Lenzing Group continued to experience a very satisfactory development in the first three quarters 2001, in spite of a difficult market environment and considerably higher raw-material prices. The consolidated sales generated during the first three quarters 2001 went up to EUR 504.8 mill., which is 6.3% more than for the same period last year. Both, EBITDA and the operating result (EBIT), rose slightly: EBITDA went up from EUR 67.1 to EUR 68.6 mill., and EBIT from EUR 36.5 mill. to EUR 37.5 mill. Earnings before taxes and minority interest (EBT) have remained almost unchanged and amount to EUR 34.7 mill. (1-9/2000: EUR 34.8 mill.). On 30 September 2001, the Group had 3,264 employees. OUTLOOK A worldwide recovery of overall economic activities is not in sight at present, which means that also the fibers industry has to face more difficult overall conditions. From todays perspective, the current business year, as a whole, will yield very good results, which, however, will be below the record level achieved for fiscal 2000. After the withdrawal of international competitors, a growing demand for Lenzing fibers is expected. However, the most recent political events on the world stage have had a dampening effect on demand, at least on a temporary basis. Lenzing Group: Results 1-9/2001, (1-9/2000) according to US-GAAP, on a Group Basis in EUR mill. Sales: 504.8 (474.9) EBITDA: 68.6 (67.1) EBIT (operating result): 37.5 (36.5) Earnings before taxes and minority interest (EBT): 34.7 (34.8) Net income: 21.1 (23.2) Earnings per share (basic) in EUR: 5.72 (6.32) end of ad-hoc-announcement (c)DGAP 09.11.2001 ——————————————————————————– WKN: 852927; Index: Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt und München; Freiverkehr in Berlin 090834 Nov 01