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Lenzing reports lower sales and earnings, speeds up savings plan
8:05 AM MDT | August 21, 2014 | Natasha Alperowicz
Lenzing today reported Ebitda declined 29%, to €91.1 million ($121.9 million), in the first six months of 2014 on 9.1% lower sales of €900.0 million. Ebitda margin declined from 13.7% in the first half of last year to 10.2%. Ebit more than halved, to €32.4 million, compared with €73.8 million in the first six months of 2013. Second-quarter Ebitda was €45.6 million, 52% down on the year-earlier quarter, with sales down from €493.3 million in the second quarter of 2013 to €448.3 million in the latest quarter. The company...
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