22 March 2013 07:48 [Source: ICIS news]
SINGAPORE (ICIS)--Austrian cellulose fibre maker Lenzing reported on Friday a 28% year-on-year drop in its net profit to €191.9m ($249.2m) in the full year of 2012, amid a dip in operating margins and sales.
Consolidated sales were down by 2.3% year on year at €2.09bn in 2012, while earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 25% to €358.7m, the company said in a statement.
Its EBITDA margin amounted to 17.2% last year, compared with 22.4% in 2011.
The company did not disclose its Q4 2012 results.
“The current market situation featuring many uncertainty factors only allows for low visibility with respect to further developments in the year 2013,” the company said.
“From Lenzing’s perspective the most likely scenario is a sideways trend, with 2013 considered to be a transitional period,” it added.
The firm’s EBITDA should range between €260m and €290m in 2013, which corresponds to an expected EBITDA margin of 12-13%, it added.
($1 = €0.77)
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