Lenzing reports half-year results; revenue rises 25.2% while EBITDA falls 13.3%
LENZING, Austria, August 3, 2022-
The Lenzing Group’s revenue grew by 25.2 percent year-on-year to reach EUR 1.29 bn in the first half of 2022, primarily due to higher fiber prices. The earnings trend mainly reflects the cost trend in global energy and raw material markets, which affected the whole of manufacturing industry. Energy, raw materials and logistics costs rose sharply once again in the reporting period, after cost pressure had already risen steadily throughout the 2021 financial year. As a consequence, earnings before interest, tax, depreciation and amortization (EBITDA) decreased by 13.3 percent year-on-year to EUR 188.9 mn.
The strength of the specialty strategy and of brands based on innovation and sustainable activity as well as the continued focus on measures to improve structural earnings in all regions mitigated this negative effect. The EBITDA margin reduced from 21.1 to 14.6 percent in the first half of the year. Net profit for the periode decreased by 24.8 percent to EUR 72.3 mn, while earnings per share amounted to EUR 2.36 (compared to EUR 3.06 in the first half of 2021).
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