Lenzing Investor Presentation 2022 Full-year Results
Measures have been taken proactively already in 2022
to further reduce costs and secure liquidity
Global program to define and implement cost reduction measures
Cash effective
savings
Reorganization and cost savings program with annualized and recurring impact of > EUR 70 mn well on track, full impact by the end of 2023
Measures will impact personnel, spend and operational efficiency - our existing P.I.T program supports fast implementation
Personnel cost savings will amount to about EUR 40 mn on an annualized base; provisions for one-off costs built in 2022
Working capital
Working capital improvement measures have been initiated
Ensure utilization of current assets / liabilities in most effective way to improve liquidity
Reduce fiber and pulp inventory levels
Capex
Risk
management
Reducing efficiently managing capex in the near to mid term
New sites in Thailand and Brazil are fully invested
2023: maintenance capex as well as carryovers from upgrade and conversion of sites in China and Indonesia
Reassessment of FX risk management and energy hedging policy
Develop effective risk management strategy to mitigate impact
Majority of energy cost for 2023 locked-in at favourable terms
www.lenzing.com
09/03/23-18
Lenzing
Innovative by natureView entire presentation