Lenzing's shares tumble on "opaque" 2024 guidance
15/03/2024 10:36
** Lenzing's shares LENV.VI fall 7.6% on the Austrian
chemicals firm's "opaque" 2024 outlook
** Stock falls to the bottom of Austria's traded index
.ATX and is on track for its worst day in 9 months
** Lenzing expects 2024 EBITDA to be higher than last year's
303.3 mln euros ($330.5 mln)
** "The guidance for 2024 remains cautious and very opaque"
Erste Group writes, keeping its 'hold' rating
** "The challenging market situation, prompting the company
to book sizable impairment, points to a still rather bumpy and
lengthy road to the previous profitability parameters" it adds
($1 = 0.9177 euros)
(Reporting by Tristan Veyet)
((Tristan.chabba@thomsonreuters.com))