Q2 2023 Energy and NaOH Market Prices Analysis
Net financial debt at EUR 1.56 bn after capital increase
Net financial debt 1,2, in EUR mn
Balance sheet metrics
-20%
1,915
1,953
1,799
1,637
1,425
According to IFRS (EUR mn)
Total assets
30 Jun. 2023
5,490.7
31 Dec. 2022
5,525.0
Change in %
(0.6)
Liquid assets 4
341.5
453.3
(24.7)
1,561
Total liabilities
3,568.6
3,499.1
2.0
there of financial liabilities
2,435.9
2,322.2
4.9
Adjusted equity5
2,010.5
2,088.6
(3.7)
Adjusted equity ratio (%)
36.6
37.8
Net gearing (%) 2
97.1
86.2
Net financial debt²
1,953.0
1,799.4
8.5
According to IFRS (EUR mn)
30 Jun. 2023
31 Dec. 2022
Q2/2022
Q3/2022
Q4/2022
Q1/2023
Q2/2023
Q2/2023PF3
Reported net financial debt1,2
Total liquidity cushion
thereof liquid assets 4
thereof unused credit facilities
578.7
341.5
685.5
453.3
Change in %
(15.6)
(24.7)
237.2
232.3
2.1
•
Since the quarter-end Lenzing has raised EUR 392 mn of net proceeds via a rights issue to strengthen balance sheet and liquidity position and to provide sufficient flexibility to further support
'Better Growth' strategy and cash generating, profitable growth
Net financial debt position materially improved at EUR 1,561 mn Pro Forma for capital increase, with continued deleveraging trajectory expected over the remainder of 2023
Capital increase, together with expected market recovery, will support Lenzing's path to net leverage ratio target of <2.5x
1) Fully consolidated Brazil JV debt included
2) Net financial debt excluding lease liabilities
3) Pro forma for capital increase
4)
Including cash and cash equivalents, liquid securities and liquid bills of exchange
5) Including government grants less proportional share of deferred taxes on government grants
www.lenzing.com
1 August 2023 - 14
Lenzing
Innovative by natureView entire presentation