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Lenzing AG

euro adhoc: Lenzing AG
quarterly or semiannual financial statement
Lenzing: successful business development continues into first quarter

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
3-month report
09.05.2008
Positive economic environment for the fiber industry - strong Asian 
demand for Lenzing fibers - continuing expansion by acquisitions in 
segment Plastics
The very good business development of the Lenzing Group in 2007 
continued into the first quarter of 2008, although there were first 
signs of weakening demand over the next quarters in segment Fibers. 
Consolidated sales rose by 23.3% from EUR 281.3 mill. to EUR 346.8 
mill. as a result of increased volume production, higher fiber prices
and the inclusion of the companies acquired by segment Plastics in 
2007.
First quarter EBIT grew by 27.6% to EUR 42.1 mill. (2007: EUR 33.0 
mill.), EBT improved from EUR 30.8 mill. to EUR 38.5 mill. Period net
income increased by 24.3% to EUR 28.6 mill. (2007: EUR 23.0 mill.). 
Quarterly earnings per share came to EUR 7.22 (2007: EUR 5.78).
Thomas Fahnemann, chairman of the management board, comments: "The 
first quarter was characterized by very good Asian demand for fibers.
We therefore managed to keep our margins more or less up to previous 
year's levels despite significantly increased raw material prices."
The first quarter EBIT margin was 12.1% (2007: 11.7%), the EBITDA 
margin 17.2% (2007: 17.5%). As at 31 March 2008 the Lenzing Group 
employed 5,925 people. (31 December 2007: 6,043). The decrease 
reflects the sale of segment Paper.
Segment Fibers: strong demand continues
The strong demand for fibers continued into the first quarter. The 
textile as well as the nonwovens industry benefited from good demand 
in Europe and in the emerging markets. The high level of capacity 
utilization in the nonwovens industry in Europe and in the USA was 
unchanged.
The business development of segment Plastics was satisfactory. 
Seasonal weakening of demand for construction materials is to be seen
alongside the good development of MOPP films and filaments. Segment 
Engineering continued to enjoy strong order bookings.
Outlook
The Lenzing Group expects the fiber boom of the past years to come to
an end in the course of the business year. The textile pipeline is 
beginning to fill up, and the stock levels of the textile chain are 
rising. This has already led to a definite weakening of prices for 
standard fibers in Europe and Asia in the first weeks of the second 
quarter. Moreover, new Asian fiber production capacity will begin to 
supply the market in the course of the current business year and lead
to excess cellulose fiber capacity. The weak US dollar is another 
burden. The pulp supply situation, however, is expected to ease up, 
as new production capacity will contribute to the market.
In core business fibers Lenzing will counter these emerging 
difficulties with a high-quality product portfolio with less 
susceptibility to cyclical fluctuations. The development of Plastics 
and Engineering in the current business year is expected to be fairly
stable.
Consolidated company key figures (IFRS)
(EUR mill.)                                                      1-3/ 2008 1-3/
2007
Sales                                                            346.8     281.3
EBITDA                                                           59.6      49.2
EBIT                                                             42.1      33.0
Net income of the period                                         28.6      23.0
EBITDA margin in %                                               17.2      17.5
EBIT margin in %                                                 12.1      11.7
Capital expenditure (intangibles, property, plant and equipment) 28.3      34.7
Operating cash flow                                              13.7      53.0
Equity ratio** in %                                              45.5*     44.8*
Staff                                                            5,925*
6,043*
* reporting dates 31/3/2008 and 31/12/2007 ** Equity including 
government grants less proportionate deferred taxes
end of announcement                               euro adhoc

Further inquiry note:

Lenzing AG
Mag. Angelika Guldt
Mobil: +43 (0)664 611 22 66
Fax: +43 (0) 07672-96301
mailto:a.guldt@lenzing.com

Branche: Chemicals
ISIN: AT0000644505
WKN: 852927
Index: WBI
Börsen: Börse Berlin / free trade
Wiener Börse AG / official dealing

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Plus de actualités: Lenzing AG