Austria’s Lenzing posts 56.8% fall in Q1 net profit; sales down 6%

08 May 2013 08:10  [Source: ICIS news]

SINGAPORE (ICIS)--Lenzing generated €20.9m ($27.5m) in first-quarter net profit, a decline of 56.8% year on year, as sales dropped by 6.0% to €496.5m, the Austrian plastics and fibres producer said on Wednesday.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter fell by 30.7% year on year to €64.5m, the company said in a statement.

Earnings from its fibres segment declined by 32.5% year on year to €58.9m in January-March 2013 because of weak selling prices, Lenzing said.

In the second quarter, the company expects to post €65m-70m in EBITDA.

($1 = €0.76)


By: Pearl Bantillo
+65 6780 4359



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