In 2017, the Lenzing Group reports its best financial performance ever with record revenue and earnings due to a better product mix and higher selling prices in combination with a generally favourable market environment. Group revenue grew by 5.9 per cent in the 2017 financial year to 2.26 bn euro (2016: 2.13 bn euro). Group earnings before interest, tax, depreciation and amortization (EBITDA) improved by 17.3 per cent to 502.5 mn euro (2016: 428.3 mn euro). The corresponding EBITDA margin rose to 22.2 percent (2016: 20.1 per cent). Earnings before interest and tax (EBIT) increased by 25.2 per cent to 371 mn euro, resulting in a higher EBIT margin of 16.4 per cent (2016: 13.9 per cent). The net profit for the year totaled 281.7 mn euro, a rise of 23 per cent from the prior-year figure of 229.1 mn euro. Earnings per share in the 2017 financial year amounted to 10.47 euro (2016: 8.48 euro).
The Management Board and the Supervisory Board will propose at the upcoming Annual General Meeting a stable dividend of 3.00 per share euro plus an increased special dividend of 2.00 per share euro (2016: 1.20 per share euro). In total, the dividend will amount to 5.00 per share euro, corresponding to a dividend payment to shareholders of 132.75 mn euro.
“The Lenzing Group looks back at a very successful year 2017. We continued to implement our corporate strategy sCore TEN with great discipline and focus on our investment projects and successfully captured value in a positive market environment. Our commitment to innovation and customer centricity was underpinned by the opening of an application innovation center in Hong Kong and the creation of the new sales and marketing office in Turkey. In line with sCore TEN we decided to revamp our brand architecture and image to sharpen Lenzing’s corporate and product profiles for customers and consumers. We want to put a stronger emphasis on our ambition to make the textile and nonwoven market more sustainable,” says Stefan Doboczky, Chief Executive Officer of the Lenzing Group. “We are very positive about our chosen strategy as it will help us to be more resilient as we expect more headwinds in the upcoming quarters,” he adds.