Apparel Market Recovery and Financial Overview
The targeted comeback year 2023 started as expected
Key developments & strategic highlights
• First signs of demand recovery accompanied by raw material and energy cost decreases
⚫ EUR > 70 mn cost reduction program remains well on track
Successful production start of TENCEL TM Modal fibers in Lenzing's Chinese production site end of Q1 2023
Acquisition of biomass plant for energy supply of lyocell production site Heiligenkreuz in April 2023
Managing Board member Robert van de Kerkhof decided to not extend his contract going forward
01-03/2023 financial results
• First recovery in volumes in line with market environment, prices remain under pressure, however, positive impact of
cost decreases and valuation/accruals benefiting EBITDA
⚫ Revenue slightly increased to EUR 623 mn (vs. EUR 615 mn in pre crisis Q1/2022)
EBITDA reached EUR 30 mn (vs. EUR 88 mn in pre crisis Q1/2022)
⚫ Net result after minorities and hybrid bond was negative at EUR -80 mn (vs. EUR 23 mn in pre crisis Q1/2022)
Liquidity cushion of EUR 640 mn remains stable
Assuming a continued market recovery in the current financial year, the Lenzing Group confirms
expectation of EBITDA in 2023 to be in a range of EUR 320 mn to EUR 420 mn¹
www.lenzing.com
1) See slide in the outlook section
3 May 2023 3
Lenzing
Innovative by natureView entire presentation