Lenzing Group Sees Boost in Operating Results

• Lenzing Group's revenue increased by 4.8% year-on-year to EUR 1.31 billion in the first half of 2024.
• EBITDA rose by 20.4% year-on-year to EUR 164.4 million, with an EBITDA margin increase from 10.9% to 12.5%.
• Free cash flow improved significantly to EUR 141.5 million, compared to a negative EUR 165.4 million in the first half of 2023.
• The company confirmed its EBITDA guidance for 2024, despite sluggish market recovery and high costs for raw materials and logistics.
• Lenzing Group is implementing a performance program aimed at enhancing long-term resilience and improving profitability, with expected savings of over EUR 100 million.
• Changes in management include the appointment of Walter Bickel as Chief Transformation Officer and Rohit Aggarwal as a new Managing Board member, succeeding CEO Stephan Sielaff.

The next important date, Quarterly report, at Lenzing is on 07.08.2024.

The price of Lenzing at the time of the news was 31,00EUR and was up +0,81 % compared with the previous day.
13 minutes after the article was published, the price was 30,98EUR this corresponds to a minus of -0,08 % since publication.

Lenzing

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ISIN:AT0000644505WKN:852927

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