The Lenzing Group, founded and headquartered in Austria stands since many years for an ecologically responsible production of specialty fibers made from the renewable raw material wood. In fact, Lenzing is the only global producer that has the technological capability to produce all 3 generations of wood-based cellulose fibers (WBCF), e.g. viscose, modal and lyocell on an industrial scale. This unique ability enabled Lenzing to establish itself as a global market, technology and sustainability leader, operating unique bio-refineries that contribute positively to a circular economy and climate change through innovative, closed loop production processes with advanced recycling and recovery rates.
As an innovation leader, Lenzing is a trusted partner of global textile and nonwoven manufacturers driving the development of existing and new technologies. Its branded (i.e. TENCEL™, VEOCEL™) high-quality, sustainable fibers are used in a wide array of textile applications ranging from ladies clothing over versatile denims to high-performance sportswear and home textiles, among others. Its eco-friendly fibers are also well suited for hygiene products as well as agricultural and industrial applications, owing to their superior properties and biodegradability. As part of its wood bio-refinery concept, Lenzing also markets the by-products of integrated cellulose and fiber production, which include acetic acid, furfural, magnesium lignin sulfonate, sodium sulfate and soda.
Lenzing is listed on the Vienna Stock Exchange (AT0000644505) and generated in 2023 with ~8,000 employees revenues of EUR 2.5 bn.
Currency | EUR |
Previous Close | 28.10 |
Change (%) | 0.72 |
Market Cap (EUR) | 1.09 bn |
Volume | 19,247 |
Market | Vienna |
Number of shares | 38,618,180 |
List | Prime Market |
Key Figures | |||||
Income statement IFRS | |||||
EUR mn | 2023 | 2022 | 2021 | 2020 | 2019 |
Revenue | 2,521.2 | 2,565.7 | 2,194.6 | 1,632.6 | 2,105.2 |
EBITDA | 303.3 | 241.9 | 362.9 | 192.3* | 329.9* |
EBITDA - Margin % | 12.0 | 9.4 | 16.5 | 11.8* | 15.7* |
EBIT | (476.4) | 16.5 | 200.6 | 33.9* | 165.3* |
EBIT - Margin % | (18.9) | 0.6 | 9.1 | 2.1* | 7.9* |
EBT | (585.6) | (10.1) | 182.9 | 22.3 | 163.8 |
Statement of financial position IFRS | |||||
EUR mn | 2023 | 2022 | 2021 | 2020 | 2019 |
Total assets | 5,214.6 | 5,525.0 | 5,322.8 | 4,163.0 | 3,121.1 |
Non-current assets/Total assets % | 65.5 | 69.7 | 60.2 | 56.7 | 57.2 |
Current assets/Total assets % | 34.5 | 30.3 | 39.8 | 43.3 | 42.8 |
Adjusted equity | 1,809.1 | 2,088.6 | 2,115.7 | 1,907.0 | 1,559.3 |
Adjusted equity ratio % | 34.7 | 37.8 | 39.7 | 45.8 | 50.0 |
Net financial debt | 1,562.6 | 1,799.4** | 913.6** | 410.5** | 364.3** |
Net financial debt/EBITDA | 5.2 | 7.4** | 2.5** | 2.1** | 1.1** |
Net debt | 1,779.5 | 1,946.6 | 1,079.3 | 575.0 | 511.4 |
Net gearing % | 86.4 | 86.2** | 43.2** | 21.5** | 23.4** |
ROCE % | (14.2) | 2.0 | 5.4 | (0.5)* | 5.4* |
Trading working capital | 551.1 | 570.7 | 387.4 | 383.8 | 403.5 |
Trading working capital to annualized group revenue % | 21.0 | 24.0 | 16.0 | 21.9 | 20.7 |
Cash flow IFRS | |||||
EUR mn | 2023 | 2022 | 2021 | 2020 | 2019 |
Gross cash flow | 88.5 | 244.8 | 372.0 | 126.8 | 294.0 |
Gross cash flow/Revenue % | 3.5 | 9.5 | 17.0 | 7.8 | 14.0 |
Cash flow from operating activities | 160.3 | (43.2) | 394.0 | 48.9 | 244.6 |
Free cash flow | (122.8) | (740.7) | (445.5) | (614.8) | 0.8 |
Capital expenditure (CAPEX) | 283.6 | 698.9 | 844.3 | 668.8 | 244.0 |
Stock exchange | |||||
EUR | 31/12/2023 | 31/12/2022 | 31/12/2021 | 31/12/2020 | 31/12/2019 |
Market capitalization in mn | 1,372.9 | 1,454.9 | 3,239.1 | 2,198.3 | 2,198.3 |
Share price | 35.55 | 54.80 | 122.00 | 82.80 | 82.80 |
Dividend per share | 0.00 | 0.00 | 4.35 | 0.00 | 0.00 |
The above financial indicators are derived primarily from the IFRS consolidated financial statements of the Lenzing Group. Additional details are provided in the section “Notes on the financial performance indicators of the Lenzing Group”, in the glossary to the Annual Report and in the consolidated financial statements of the Lenzing Group. Rounding differences can occur in the presentation of rounded amounts and percentage rates.
*Reclassification of capitalized borrowing costs, net interest from defined benefit plans and commitment fees from EBIT/EBITDA to the financial result (see note 2 of the consolidated financial statements as at December 31, 2021).
**Since the second quarter of the 2023 financial year, net financial debt is presented excluding lease liabilities.