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euro adhoc: Lenzing AG
Quarterly or Semiannual Financial Statements / The Lenzing Group Confirms Figures for 2004

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
25.04.2005
Dividend Proposal: EUR 8 per Share
2005 Off to a Satisfactory Start under Clearly More Difficult Global
Conditions
The Lenzing Group confirms the figures that were disclosed earlier in
a preliminary form.  Accordingly, the Group’s sales according to IFRS
went up by 16.6%, from EUR 747.2 mill. to EUR 871.1 mill. The Group’s
income from operations (EBIT) rose from EUR 89.7 mill. to EUR 104.3
mill. It was possible to improve the net income before minority
interests by 22.4%, from 63.7 mill. to EUR 78.0 mill. On account of
the good business figures, the Management Board will propose to the
Shareholders’ Meeting raising the dividend from EUR 6 to EUR 8 per
share.
Larger production volumes, the take-over of the Tencel group of
companies, higher fiber prices, as well as improved earnings by
Lenzing Technik and Lenzing Plastics, two Lenzing subsidiaries, were
the factors behind the improvement in sales and earnings. "We were
able to fully benefit from the international upswing in the fiber
industry during 2004, because we invested in time into expanding our
capacities and improving our product mix," Thomas Fahnemann, Chairman
of the Management Board, comments the definite results for 2004. In
the field of textile fibers, the vigorous demand in Asia was the
driving force for Lenzing; in the field of nonwovens, Lenzing
benefited from the good development in Europe, the USA and Asia.
Clearly More Difficult Overall Conditions in 2005
Although the first weeks of the 2005 business years were off to a
good start, Lenzing expects considerably more difficult overall
conditions worldwide for the whole year. Industrial activities will
slow down worldwide in the course of 2005. Already now, the record
cotton harvest of the 2004/05 season is forcing down the
international price level for fibers, whereas raw-material prices
continue to stay on a high level. The unfavorable euro/dollar
relation and the liberalization of textile import quotas are major
aggravating factors for the European market.
The Group’s Key Data in EUR mill. according to IFRS (Figures for 2003
also according to IFRS)
~
                                       2004  2003  Change in %
Sales                                  871.1 747.2 +16.6
EBITDA                                 160.4 134.8 +19.0
EBIT                                   104.3 89.7  +16.3
Net income before minority interests   78.0  63.7  22.4
EBITDA margin in %                     18.4  18.0  +2.2
EBIT margin in %                       12.0  12.0  0.0
Gross cash flow                        128.5 115.9 +10.8
Equity ratio in %                      48.5  45.3  +7.1
Property, plant and equipment          570.9 510.4 +11.8
Dividend per share (proposal for 2004) 8     6     +33.3
Staff                                  4,845 4,523 +7.1
~
end of announcement                    euro adhoc 25.04.2005 07:57:40 

Further inquiry note:

Angelika Guldt

Branche: Chemicals
ISIN: AT0000644505
WKN: 064450
Index: WBI
Börsen: Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Wiener Börse AG / official dealing

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