Lenzing revenues grow 5.9 percent in 2017
In 2017, the Lenzing Group reported group revenue growth of 5.9 percent to 2.26 billion euros (2.80 billion dollars). Group EBITDA improved by 17.3 percent to 502.5 million euros (621.5 million dollars) and the corresponding EBITDA margin rose to 22.2 percent. EBIT for the year increased by 25.2 percent to 371 million euros (458.8 million dollars), resulting in a higher EBIT margin of 16.4 percent, while net profit was 281.7 million euros (348.4 million dollars), a 23 percent rise over the prior-year. Earnings per share amounted to 10.47 euros (12.95 dollars) against 8.48 euros 10.49 dollars) in 2016.
“The Lenzing Group looks back at a very successful year 2017. Our commitment to innovation and customer centricity was underpinned by the opening of an application innovation center in Hong Kong and the creation of the new sales and marketing office in Turkey. In line with sCore TEN we decided to revamp our brand architecture and image to sharpen Lenzing’s corporate and product profiles for customers and consumers,” said Stefan Doboczky, CEO of the Lenzing Group in statement.
The Lenzing Group aims to increase the share of specialty fibers as a percentage of revenue to 50 percent by 2020. Next to the capacity expansion in Heiligenkreuz (Austria), to be completed in the second quarter of 2018, and the new plant in Mobile, Alabama (USA), with a start-up in 2019, Lenzing announced its intention to construct the next world-scale plant to produce Lenzing branded Lyocell fibres in Thailand.
Lenzing said, the management board and the supervisory board will propose a stable dividend of 3 euros (3.7 dollars) per share plus an increased special dividend of 2 euros (2.4 dollars) per share. In total, the dividend will amount to 5 euros (6.1 dollars) per share, corresponding to a dividend payment to shareholders of 132.75 million euros (164.1 million dollars).
Picture:Lenzing image archive