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Lenzing AG
Earnings Release • Jan 23, 2024
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Earnings Release
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News Details
Ad-hoc | 23 January 2024 18:05
Lenzing AG: Impairment requirements (EBIT) for the financial year 2023; confirmation and specification of earnings forecast (EBITDA)
Lenzing AG / Key word(s): Annual Results
Lenzing AG: Impairment requirements (EBIT) for the financial year 2023; confirmation and specification of earnings forecast (EBITDA)
23-Jan-2024 / 18:05 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 annual valuation of assets in accordance with IFRS for the entire Lenzing Group, both nationally in Austria and internationally, has resulted in a projected asset impairment of up to EUR 480 million for the 2023 financial year. [1] The reasons for the impairment requirements are, on the one hand, continued uncertainties in the economic environment and, on the other hand, still increased raw material and energy costs as well as a higher interest rate environment.
The impairment losses are non-cash effective and have no impact on the full-year EBITDA for 2023, but do affect EBIT for the 2023 financial year. The Managing Board is specifying the previous earnings forecast for the 2023 financial year (EBITDA: EUR 270 – 330 million) and expects an EBITDA of around EUR 300 million.
| Your contact for Public Relations: Dominic Köfner Vice President Corporate Communications & Public Affairs Lenzing Aktiengesellschaft Werkstraße 2, 4860 Lenzing, Austria Phone +43 7672 701 2743 E-mail [email protected] Web www.lenzing.com |
Investor Relations: Sébastien Knus Vice President Capital Markets Lenzing Aktiengesellschaft Werkstraße 2, 4860 Lenzing, Austria Phone +43 7672 701 3599 E-mail [email protected] Web www.lenzing.com |
[1] Subject to potential changes resulting from the ongoing financial audit
End of Inside Information
23-Jan-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com
| Language: | English |
| Company: | Lenzing AG |
| 4860 Lenzing | |
| Austria | |
| Phone: | +43 7672-701-0 |
| Fax: | +43 7672-96301 |
| E-mail: | [email protected] |
| Internet: | www.lenzing.com |
| ISIN: | AT0000644505 |
| Indices: | ATX |
| Listed: | Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1821349 |
| End of Announcement | EQS News Service |