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Lenzing says difficult market in first quarter; sales fall 9%, Ebitda plunges 30%

4:31 AM MDT | May 16, 2014 | Michael Ravenscroft

Lenzing (Lenzing, Austria) says that sales in first-quarter 2014 were €451.7 million ($618.8 million), compared with €496.5 million in the corresponding quarter a year ago, a decrease of 9%. Ebitda fell to €46.3 million, versus €66.3 million in first-quarter 2013, a decrease of 30% year-on-year (YOY). Ebitda margin fell to 10.2% in first-quarter 2014, compared with 13.4% a year ago. First-quarter 2014 Ebit plunged 52% to €16.7 million, versus €35.1 million in the year-ago period. First quarter 2014 was marked by continuous erosion of...

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