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Lenzing AG

euro adhoc: Lenzing AG
Quarterly or Semiannual Financial Statements
Lenzing Group continues its successful course (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
Lenzing Group continues its successful course
The positive development continued during the third quarter 2002 -
Sales up by 2.7% to EUR 466.9 mill. - EBIT and EBT increased by more
than 30% - Vigorous demand for Lenzing fi-bers - Positive outlook in
spite of a difficult market environment.
The sales achieved during the first nine months of fiscal 2002 were
increased by 2.7% over the same period last year and amounted to EUR
466.9 mill. It became possible to improve the EBITDA to EUR 91.2
mill., which corresponds to a plus of 25%. The income from operations
(EBIT) was expanded by 37% and amounted to EUR 60.3 mill. The income
before taxes and minority interest (EBT) rose by 32% to EUR 56.0
mill.
This more than proportionate improvement in the result was achieved
by a further improvement in our product mix and a higher
productivity, in connection with favorable raw material prices.
Lenzing succeeded in remaining largely unaffected by the difficult
cyclical environment. All production lines worked at full capacity.
The sale of Lenzing Fibers developed positively in all regions. For
the first nine months of the business year, sales were 39% above the
figure achieved for the same period last year. In Asia, in
particular, the sale of Lenzing's special fibers grew vigorously
during the past three quarters.
The development of business activities with Lenzing Lyocell at the
Heiligenkreuz site in Burgenland, Austria was also very positive.
Production lines operated at full capacity, and it became possible to
further expand production by applying optimizing measures. Especially
in the textile area, it became possible to increase sales
considerably.
The sectors engineering and systems construction, plastics and paper
all showed quite a positive development of their sales and produced
good contributions to the result, in spite of an increasingly
difficult market environment.
Positive outlook in spite of an uncertain market and cyclical
situation
In the coming months, the market for fibers will become increasingly
difficult. In Asia stocks of yarn are accumulating, and in Europe the
demand for textile fibers is slowing down. As the general cyclical
situation continues to be weak, hardly any positive impulses can be
expected. Nevertheless, Peter Untersperger, Managing Board Member for
Finances, expects a very positive result for fiscal 2002: "The demand
for Lenzing fibers will continue to be strong, on account of our
successful strategy with fiber specialties. For the sectors
engineering and systems construction, plastics and paper, we expect
to have satisfactory contributions to our result."
Important Key Data
~
according to US GAAP;
on a Group basis
         1-9/2002     1-9/2001     7-9/2002     7-9/2001
         in EUR mill. in EUR mill. in EUR mill. in EUR mill.
Sales      466.9        454.5        155.9        153.3
EBITDA      91.2         72.9         31.0         24.4
EBIT        60.3         44.0         20.8         14.6
Income before taxes and minority  interest
(EBT)       56.0         42.4         21.0         13.6
Net income  36.5         21.1         13.4          6.9
~
end of announcement        euro adhoc 08.11.2002

Further inquiry note:

Lenzing AG Mrs. Angelika Guldt Phone.: +43 (0) 7672-701-2713 Fax: +43 (0) 07672-96301 mail
to:a.guldt@lenzing.com

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

Original-Content von: Lenzing AG, übermittelt durch news aktuell

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