Brief: Lenzing AG Says After Annual Valuation Of Assets For Lenzing Group,Resulted In A Projected Asset Impairment Of Up To Eur 480 Million For FY 2023

Lenzing AG

23/01/2024 17:09

Jan 23 (Reuters) - Lenzing AG  LENV.VI :
    * EQS-ADHOC: LENZING AG: IMPAIRMENT REQUIREMENTS (EBIT) FOR
THE
FINANCIAL YEAR 2023; CONFIRMATION AND SPECIFICATION OF EARNINGS
FORECAST (EBITDA)
    * EQS-ADHOC: LENZING AG: IMPAIRMENT REQUIREMENTS (EBIT) FOR
THE
FINANCIAL YEAR 2023; CONFIRMATION AND SPECIFICATION OF EARNINGS
FORECAST (EBITDA)
    * LENZING AG  - IMPAIRMENT LOSSES ARE NON-CASH EFFECTIVE AND
HAVE
NO IMPACT ON FULL-YEAR EBITDA FOR 2023, BUT DO AFFECT EBIT FOR
2023 FINANCIAL YEAR
    * LENZING AG - REASONS FOR IMPAIRMENT REQUIREMENTS ARE RAW
MATERIAL AND ENERGY COSTS AS WELL AS A HIGHER INTEREST RATE
ENVIRONMENT
    * LENZING AG - BOARD IS SPECIFYING PREVIOUS EARNINGS
FORECAST FOR
2023 (EBITDA: EUR 270 - 330 MILLION) AND EXPECTS AN EBITDA OF
AROUND EUR 300 MILLION
    * LENZING  - AFTER ANNUAL VALUATION OF ASSETS FOR  LENZING
GROUP
,RESULTED IN A PROJECTED ASSET IMPAIRMENT OF UP TO EUR 480
MILLION FOR 2023 FINANCIAL YEAR

Source text for Eikon:  ID:nEQ37gP4ba 
Further company coverage:  LENV.VI 

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