from Lenzing AG (isin : AT0000644505)
EQS-Adhoc: Lenzing AG: Lenzing with new outlook for 2023
EQS-Ad-hoc: Lenzing AG / Key word(s): Profit Warning
Lenzing AG: Lenzing with new outlook for 2023
14-Sep-2023 / 20:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Lenzing – The continued weak development of the markets relevant to Lenzing, coupled with very cautious market expectations in 2023, requires a reassessment of Lenzing AG’s macroeconomic environment.
Taking into account the current lack of market recovery, the previous earnings forecast is not expected to be achieved. The Lenzing Group is therefore adjusting its forecast for earnings development and is assuming EBITDA in a range of EUR 270 mn to EUR 330 mn for the 2023 financial year.
With the aim of increasing profitability and cash flow generation, Lenzing is launching a holistic value creation program.
| Your contact for Public Relations: Dominic Köfner Vice President Corporate Communications & Public Affairs Lenzing AktiengesellschaftWerkstraße 2, 4860 Lenzing, Austria Phone +43 7672 701 2743 E-mail media@lenzing.com Web www.lenzing.com | Investor Relations: Sébastien Knus Vice President Capital Markets Lenzing Aktiengesellschaft Werkstraße 2, 4860 Lenzing, Austria Phone +43 7672 701 3599 E-mail s.knus@lenzing.com Web www.lenzing.com |
End of Inside Information
14-Sep-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
| Language: | English |
| Company: | Lenzing AG |
| 4860 Lenzing | |
| Austria | |
| Phone: | +43 7672-701-0 |
| Fax: | +43 7672-96301 |
| E-mail: | office@lenzing.com |
| Internet: | www.lenzing.com |
| ISIN: | AT0000644505 |
| Indices: | ATX |
| Listed: | Vienna Stock Exchange (Official Market) |
| EQS News ID: | 1726765 |
| End of Announcement | EQS News Service |
1726765 14-Sep-2023 CET/CEST