21st Austria weekly - Lenzing, Andritz, Vienna Airport (23/01/2024)

Lenzing: The annual valuation of assets in accordance with IFRS for the entire Lenzing Group, both nationally in Austria and internationally, has resulted in a projected asset impairment of up to EUR 480 million for the 2023 financial year. The reasons for the impairment requirements are, on the one hand, continued uncertainties in the economic environment and, on the other hand, still increased raw material and energy costs as well as a higher interest rate environment. The impairment losses are non-cash effective and have no impact on the full-year EBITDA for 2023, but do affect EBIT for the 2023 financial year. The Managing Board is specifying the previous earnings forecast for the 2023 financial year (EBITDA: EUR 270 - 330 million) and expects an EBITDA of around EUR 300 ...

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