All Stories
Follow
Subscribe to Lenzing AG

Lenzing AG

ots Ad hoc-Service: Lenzing AG <AT0000644505> THE LENZING GROUP IS ON COURSE FOR A RECORD OUTCOME!

Lenzing (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
THE LENZING GROUP IS ON COURSE FOR A RECORD OUTCOME! EXCELLENT
DEVELOPMENT DURING THE FIRST THREE QUARTERS 2000
Earnings before taxes up from EUR 6.0 mill. to EUR 34.8 mill. -
Operating results increased more than fivefold - EBITDA went up by
51% to EUR 67.1 mill. - Sales increased by 23% - Excellent business
continues
During the third quarter 2000, the Lenzing Group's very successful
development continued, the company is on course for a record outcome
for 2000. The new strategic orientation with its improved product mix
as well as our cost reductions, combined with the continuous cyclical
high in fiber markets, are reflected in a further vigorous growth in
earnings. Also, the profit per share developed favorably for Lenzing
shareholders: it rose dramatically from EUR 1.50 in the previous year
to EUR 6.32 as of 30 September 2000.
During the first three quarters, earnings before taxes and
minority interest (EBT) as well as operating results increased more
than fivefold. EBT amounted to EUR 34.8 mill. (previously EUR 6.0
mill.), and operating results grew from EUR 6.6 mill. to EUR 34.1
mill. Also EBITDA with EUR 67.1 mill. shows an excellent growth of
51%. Consolidated sales rose by 23% to EUR 474.9 mill.
Outlook: Favorable development of earnings continues
As a result of the strong demand in all business sectors - fibers,
films, engineering and systems-construction, and paper - the Lenzing
Group is expecting an excellent result for 2000. By expanding the
segments of special fibers and nonwovens the Lenzing Group is well
prepared to meet any future downswing in the textile business.
Key Figures of the Lenzing Group: Income Statment according to
US-GAAP, on a Group basis, 1-9/2000 in EUR mill. (comparative
figures: 1-9/1999) Sales: 474,9 (386,3) Income from operations: 34,1
(6,6) Results from financial activities: -1,7 (-2,7) Earnings before
taxes and minority interest: 34,8 (6,0) Profit for the year after
minority interest: 23,2 (5,4) Earnings per share (basic), in EUR:
6,32 (1,50)
For further information please contact: Jochen Werz, Spokesman of
the Board, Tel: ++43/7672/701-2300 Dietmar Preslmayr, Corporate
Communication, Tel: ++43/7672/701-2713  d.preslmayr@lenzing.com
End
Internet: http://recherche.newsaktuell.de

Original content of: Lenzing AG, transmitted by news aktuell

More stories: Lenzing AG
More stories: Lenzing AG