Lenzing falls after results come below expectations

Lenzing AG

09/03/2023 08:58

** Lenzing  LENV.VI  falls 7% as the Austrian chemicals firm
reported full-year earnings below expectations 
    ** Lenzing's EBITDA reached 241.9 million euros ($255.35
million) in 2022, falling by one-third compared to last year,
and below consensus of 258.4 million euros, cited by Baader
Helvea
    ** Net loss came in at 37.2 million euros ($39.27 million),
below the 32.2 million euros seen in consensus
    ** "As anticipated, Lenzing's profitability margins were
under mounting pressure from the escalating prices for energy
and raw materials," Erste Group notes
    ** Lenzing shares fall to the bottom of the Austrian Traded
Index  .ATX 


($1 = 0.9473 euros)

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))