Lenzing falls after guidance suspension
20/09/2022 07:37
** Lenzing LENV.VI falls 5.7% in early trade to the bottom
of the Austrian traded index .ATX after FY guidance
suspension urn:newsml:reuters.com:*:nTUC8LD4K9
** The Austrian chemical firm cites limited market
visibility and high volatility of the energy and raw material
markets as reasons for the suspension
** It adds its 2024 medium-term guidance is also at risk
** Brokerage Erste Group views this profit warning as a
negative surprise to the market, even considering Q2 results
which "evidenced that the company's profitability margins were
under mounting pressure from the escalating prices for energy
and raw materials"
(Reporting by Tristan Chabba)
((Tristan.chabba@thomsonreuters.com))