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Lenzing reports consolidated sales rise by 13.8% in Q1

May '07
Strong organic growth of the core business cellulose fibers, important acquisitions at Lenzing Plastics and the very good development of business operations characterized the first quarter of 2007.

Consolidated sales of the Group rose by 13.8% to EUR 297.2 mill. (2006: EUR 261.2 mill.). The increase in sales was mainly the result of further production increases in core business fibers. EBIT for the quarter improved by 42.5% to a new record level of EUR 32.5 mill. (2006: EUR 22.8 mill.).

Financial income and expense improved to minus EUR 2.2 mill. (2006: EUR minus 3.2 mill.) Net income increased by 62.4% to EUR 23.0 mill (2006: EUR 14.1 mill). This corresponds to earnings per share of EUR 5.78 for the quarter (2006: EUR 3.31).

The EBIT margin was 11.0% (2006: 8.8%) and the EBITDA margin 16.5% (2006: 14.8%). The staff of the Lenzing Group at the end of the quarter was 5,288 (31 December 2006: 5,044). The increase is mainly due to the start-up of production at the new viscose fiber production plant in Nanjing (China).

Strong fiber business sustains sales and results:
The strong demand for viscose fibers benefited Business Unit Textile Fibers as well as Business Unit Nonwoven Fibers. Lenzing used the favorable market development to further improve its product mix in favor of high-quality fiber specialities and to implement price increases.

All production plants are running at full capacity. Orders are booked for weeks in advance.Lenzing Plastics placed a new emphasis on growth with the acquisition of the German Hahl Group GmbH (first consolidation as of 1 April 2007) and with its entry into the carbon fiber business.

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