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LNZ - Lenzing AG News Story

€45.8 0.6  1.2%

Last Trade - 25/09/20

Basic Materials
Mid Cap
Market Cap £1.10bn
Enterprise Value £1.89bn
Revenue £1.67bn
Position in Universe 342nd / 1042

Lenzing boosts sales and EBIT, sees price upturn

Mon 18th May, 2015 6:34am
VIENNA, May 18 (Reuters) - Austrian fibre maker Lenzing 
 LENV.VI  boosted first-quarter sales and operating profit 
thanks to a better product mix and cost cuts, it said on Monday, 
detecting some improvement in the viscose fibre market. 
    Earnings before interest and taxes rose more than 60 percent 
to 27 million euros ($30.8 million) as sales were up 5.1 percent 
to 475 million, it said, while its EBIT margin gained two points 
to 5.7 percent. 
    "The viscose fibre market showed a slight upward movement at 
the beginning of the second quarter of 2015. However, it remains 
to be seen whether this development is sustainable," it said, 
adding it would try to raise prices in the second quarter. 
    Lenzing had said in March it expected no far-reaching price 
recovery in the mid term after a market swamped by cheap Chinese 
and Indian viscose pushed it to a 2014 net loss of 14 million 
euros.  ID:nL6N0WQ1QO  
($1 = 0.8757 euros) 
 (Reporting by Michael Shields) 
 ((Michael.Shields@thomsonreuters.com; +43 1 531 12 258; Reuters 
Messaging: michael.shields.thomsonreuters.com@reuters.net)) 
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