Q2 2023 Energy and NaOH Market Prices Analysis
Strengthened liquidity, deleveraged, and good progress on
profitability enhancement
Key developments & strategic highlights
Fiber demand with signs of improvements vs. H2 2022 while prices remain under pressure
Raw material and energy costs have further decreased as expected but remain on elevated levels
EUR > 70 mn cost reduction program and strengthening of sales activities are on track
⚫ Liquidity strengthened and deleveraged with successful completion of EUR 392 mn capital increase and proactive extension.
of EUR 249 mn upcoming debt amortizations
01-06/2023 financial results
• Recovery in volumes compared to H2 2022 in line with market recovery, prices remain under pressure, however, positive impact
of cost decreases and the valuation of biological assets benefiting EBITDA
Revenue slightly decreased to EUR 1,250 mn (vs. EUR 1,294 mn in pre crisis H1/2022)
EBITDA reached EUR 1371 mn in H1/2023 (vs. EUR 189 mn in pre crisis H1/2022)
EBITDA increased to EUR 1071 mn in Q2/2023 (vs. EUR 301 mn in Q1/2023)
Net result after minorities and hybrid bond was negative at EUR -104 mn (vs. EUR 63 mn in pre crisis H1/2022)
⚫ Free cash flow significantly increased in Q2/2023 to EUR -33 mn (vs. EUR -132 mn in Q1/2023)
Assuming a continued market recovery in the current financial year, the Lenzing Group keeps expectation Lenzing
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of EBITDA in 2023 to be in a range of EUR 320 mn to EUR 420 mn²
1) Includes positive biological asset valuation impact 2) See slide in the outlook section
1 August 2023 - 4
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