Lenzing Q1 EBIDTA declines 24.3 percent

Lenzing revenues in the first quarter of 2020 declined by 16.7 percent in comparison with the prior-year quarter and amounted to 466.3 million euros (504.6 million dollars). The company said in a statement that the main reason was the development of prices for standard viscose and other standard fibers and the impact of the Covid-19 crisis further increased pressure on prices and volumes. EBITDA for the quarter decreased by 24.3 percent to 69.6 million euros (75.3 million dollars) and the EBITDA margin declined from 16.4 percent to 14.9 percent. Net profit for the period was down 58.6 percent to 17.7 million euros (19.1 million dollars) and earnings per share amounted to 0.84 euros compared with 1.65 euros in the first quarter of the previous year.