Price Target Changed • Apr 07
Price target decreased by 10.0% to €23.50 Down from €26.10, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of €23.05. Stock is down 4.4% over the past year. The company is forecast to post a net loss per share of €1.83 next year compared to a net loss per share of €5.45 last year. Reported Earnings • Mar 20
Full year 2025 earnings released: €5.45 loss per share (vs €4.06 loss in FY 2024) Full year 2025 results: €5.45 loss per share (further deteriorated from €4.06 loss in FY 2024). Revenue: €2.60b (down 2.3% from FY 2024). Net loss: €210.3m (loss widened 34% from FY 2024). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Major Estimate Revision • Feb 18
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -€3.34 to -€3.88 per share. Revenue forecast unchanged at €2.62b. Chemicals industry in Austria expected to see average net income growth of 29% next year. Consensus price target broadly unchanged at €26.10. Share price fell 5.8% to €26.10 over the past week. Breakeven Date Change • Feb 17
No longer forecast to breakeven The 5 analysts covering Lenzing no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of €49.9m in 2027. New consensus forecast suggests the company will make a loss of €60.8m in 2027. Announcement • Feb 03
Lenzing Aktiengesellschaft (WBAG:LNZ) acquired an additional unknown minority stake in TreeToTextile AB. Lenzing Aktiengesellschaft (WBAG:LNZ) acquired an additional unknown minority stake in TreeToTextile AB on February 2, 2026. The transaction is executed through the issuance of new shares. After the acquisition Lenzing Aktiengesellschaft will own majority stake in TreeToTextile AB.
Lenzing Aktiengesellschaft (WBAG:LNZ) completed the acquisition of additional unknown minority stake in TreeToTextile AB on February 2, 2026. Price Target Changed • Dec 29
Price target decreased by 11% to €24.50 Down from €27.40, the current price target is an average from 4 analysts. New target price is 8.9% above last closing price of €22.50. Stock is down 24% over the past year. The company is forecast to post a net loss per share of €3.34 next year compared to a net loss per share of €4.06 last year. Announcement • Dec 09
Lenzing Aktiengesellschaft, Annual General Meeting, Apr 23, 2026 Lenzing Aktiengesellschaft, Annual General Meeting, Apr 23, 2026. Major Estimate Revision • Oct 01
Consensus EPS estimates fall by 38% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -€1.37 to -€1.89 per share. Revenue forecast of €2.69b unchanged since last update. Chemicals industry in Austria expected to see average net income growth of 17% next year. Consensus price target broadly unchanged at €28.20. Share price fell 3.7% to €25.80 over the past week. Major Estimate Revision • Aug 15
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -€0.988 to -€1.10 per share. Revenue forecast unchanged at €2.69b. Chemicals industry in Austria expected to see average net income growth of 25% next year. Consensus price target broadly unchanged at €28.60. Share price fell 5.5% to €26.75 over the past week. Price Target Changed • Aug 12
Price target decreased by 8.9% to €28.50 Down from €31.28, the current price target is an average from 5 analysts. New target price is 7.5% above last closing price of €26.50. Stock is down 13% over the past year. The company is forecast to post a net loss per share of €1.16 next year compared to a net loss per share of €4.06 last year. Reported Earnings • Aug 08
Second quarter 2025 earnings released: €1.02 loss per share (vs €1.01 loss in 2Q 2024) Second quarter 2025 results: €1.02 loss per share (further deteriorated from €1.01 loss in 2Q 2024). Revenue: €650.9m (flat on 2Q 2024). Net loss: €39.4m (loss widened 1.0% from 2Q 2024). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year and the company’s share price has also fallen by 31% per year. Major Estimate Revision • Jul 09
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -€0.835 to -€0.988 per share. Revenue forecast unchanged at €2.69b. Chemicals industry in Austria expected to see average net income growth of 20% next year. Consensus price target broadly unchanged at €30.95. Share price rose 2.8% to €25.50 over the past week. Price Target Changed • Jul 08
Price target decreased by 7.5% to €30.95 Down from €33.45, the current price target is an average from 6 analysts. New target price is 23% above last closing price of €25.10. Stock is down 24% over the past year. The company is forecast to post a net loss per share of €0.99 next year compared to a net loss per share of €4.06 last year. Major Estimate Revision • Jun 17
Consensus EPS estimates fall by 38% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -€0.604 to -€0.835 per share. Revenue forecast unchanged at €2.70b. Chemicals industry in Austria expected to see average net income growth of 18% next year. Consensus price target down from €33.45 to €31.28. Share price fell 12% to €23.75 over the past week. Major Estimate Revision • Jun 01
Consensus EPS estimates fall by 25% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -€0.484 to -€0.604 per share. Revenue forecast unchanged at €2.72b. Chemicals industry in Austria expected to see average net income growth of 17% next year. Consensus price target of €33.45 unchanged from last update. Share price was steady at €26.40 over the past week. Reported Earnings • May 13
First quarter 2025 earnings released: EPS: €0.12 (vs €0.83 loss in 1Q 2024) First quarter 2025 results: EPS: €0.12 (up from €0.83 loss in 1Q 2024). Revenue: €690.2m (up 4.8% from 1Q 2024). Net income: €4.70m (up €36.7m from 1Q 2024). Profit margin: 0.7% (up from net loss in 1Q 2024). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Announcement • Apr 18
Lenzing Announces Supervisory Board Changes Lenzing at its annual general meeting, appointed Patrick Lackenbucher and Leonardo Grimaldi to the supervisory board until 2029. They replace Cord Prinzhorn, whose term expired, and Marcelo Feriozzi Bacci, who resigned from the board in December 2024, according to a company statement on Thursday. Announcement • Apr 03
The Lenzing Group Announces Board Member and Chief Transformation Officer Walter Bickel Will Leave Company At the End of March 2025 The Lenzing Group announced personnel changes in the company’s Managing Board. The Supervisory Board of Lenzing AG and Dr. Walter Bickel, Chief Transformation Officer of Lenzing AG, have mutually agreed to end the temporary mandate of Mr. Bickel and that Mr. Bickel will step down from his operational activities at the end of March 2025. Mr. Bickel was appointed to the Managing Board of Lenzing AG as of April 15, 2024 to strengthen the Lenzing Managing Board and to be responsible for the further development and implementation of the performance program. Under his leadership, a significant overachievement of the planned contributions from the performance program could be realized. The basis for future significant improvement steps is established, and the program has been structured in a way that it can now be continued by Lenzing AG seamlessly. Major Estimate Revision • Apr 02
Consensus EPS estimates upgraded to €0.49 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -€0.64 to -€0.487 per share. Revenue forecast steady at €2.72b. Chemicals industry in Austria expected to see average net income growth of 17% next year. Consensus price target broadly unchanged at €32.95. Share price fell 15% to €25.90 over the past week. Reported Earnings • Mar 14
Full year 2024 earnings released: €4.06 loss per share (vs €20.02 loss in FY 2023) Full year 2024 results: €4.06 loss per share (improved from €20.02 loss in FY 2023). Revenue: €2.66b (up 5.7% from FY 2023). Net loss: €156.6m (loss narrowed 76% from FY 2023). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Announcement • Mar 12
Cord Prinzhorn Not Stand for Re-Election as Member of Lenzing AG's Supervisory Board The Chairman of the Supervisory Board of Lenzing AG, Cord Prinzhorn, has informed the Nomination Committee of the Supervisory Board that he will not extend his term as a member of the company’s Supervisory Board after the Annual General Meeting on April 17, 2025 and will not stand for re-election at the upcoming Annual General Meeting. Cord Prinzhorn intends to devote more time to his existing and new activities at the B&C Group. Mr. Prinzhorn will thus leave the Supervisory Board of Lenzing AG at the end of the Annual General Meeting. New Risk • Feb 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Austrian stocks, typically moving 6.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (6.0% average weekly change). Announcement • Jan 27
Lenzing Aktiengesellschaft, Annual General Meeting, Apr 17, 2025 Lenzing Aktiengesellschaft, Annual General Meeting, Apr 17, 2025. New Risk • Dec 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Austrian stocks, typically moving 4.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (4.6% average weekly change). Major Estimate Revision • Nov 14
Consensus EPS estimates fall by 34% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€2.63 to -€3.51 per share. Revenue forecast unchanged at €2.66b. Chemicals industry in Austria expected to see average net income growth of 35% next year. Consensus price target broadly unchanged at €33.74. Share price fell 5.6% to €29.75 over the past week. Reported Earnings • Nov 08
Third quarter 2024 earnings released: €1.66 loss per share (vs €0.97 loss in 3Q 2023) Third quarter 2024 results: €1.66 loss per share (further deteriorated from €0.97 loss in 3Q 2023). Revenue: €647.5m (up 5.2% from 3Q 2023). Net loss: €64.1m (loss widened 45% from 3Q 2023). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Announcement • Nov 06
Lenzing Nonwovens Expands its LENZING Lyocell Dry Fiber Portfolio to Offer Cellulosic Solutions for a Wider Range of Applications Lenzing Nonwovens announced the expansion of its LENZING Lyocell Dry fiber portfolio with two new cellulosic fibers – a fine dry fiber that delivers strength and softness and a coarse dry fiber which provides enhanced liquid and air flow. These two innovative products enable customers to confidently broaden their use of LENZING's wood-based and biodegradable fibers into a wider range of applications while maintaining exceptional performance. All LENZING Lyocell Dry fibers within the family (standard, fine, and coarse) have hydrophobic properties which ensure efficient liquid management suitable for extensive nonwoven applications. The new LENZING Lyocell Dry fine fiber can produce nonwoven fabrics with higher density compared to LENZING Lyocell Dry standard fiber. With up to 30% more cellulosic fibers in the same space, customers can create strong and soft nonwoven products. These fibers are suitable for use in hygiene applications such as diapers or sanitary pads. The new LENZING Lyocell Dry coarse fiber creates fabrics that are more open due to its extended fiber diameter, and thus increasing the pore sizes between the fibers in the fabric. This allows for more air or liquid to flow through the material. It is particularly suitable for the acquisition and distribution layer in hygiene products and is also being explored for industrial filtration applications. Lenzing will showcase its innovative LENZING Lyocell Dry fiber family at tabletop 202 during the Hygienix Conference, November 18-21, 2024. Facts and figures: LENZING Lyocell Dry fine has a linear density of 1.3dtex; LENZING Lyocell Dry standard has a linear density of 1.7dtex; Fabrics produced using LENZING Lyocell Dry fine and standard have the same basis weight (eg. 50gsm) but the "fine" material has a higher density with up to 30% more fibers in the same space. LENZING Lyocell Dry coarse has a linear density of 6.3dtex. Major Estimate Revision • Sep 01
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€1.87 to -€2.07 per share. Revenue forecast unchanged at €2.65b. Chemicals industry in Austria expected to see average net income growth of 30% next year. Consensus price target broadly unchanged at €34.04. Share price fell 3.0% to €30.85 over the past week. Announcement • Aug 22
Lenzing Aktiengesellschaft Announces CEO Changes Lenzing Aktiengesellschaft announced Stephan Sielaff to leave the company as of August 31, 2024. Rohit Aggarwal will take over the position of CEO as of 1 September 2024. Outgoing Chief Executive Officer Stephan Sielaff will leave the company end of August 2024, by mutual agreement with the Supervisory Board. Major Estimate Revision • Aug 14
Consensus EPS estimates fall by 29%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from €2.63b to €2.66b. Forecast EPS reduced from -€1.46 to -€1.87 per share. Chemicals industry in Austria expected to see average net income growth of 30% next year. Consensus price target broadly unchanged at €34.06. Share price was steady at €30.45 over the past week. Reported Earnings • Aug 08
Second quarter 2024 earnings released: €1.01 loss per share (vs €0.89 loss in 2Q 2023) Second quarter 2024 results: €1.01 loss per share (further deteriorated from €0.89 loss in 2Q 2023). Revenue: €652.3m (up 4.0% from 2Q 2023). Net loss: €39.0m (loss widened 65% from 2Q 2023). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Price Target Changed • May 14
Price target increased by 9.6% to €34.26 Up from €31.26, the current price target is an average from 5 analysts. New target price is 5.2% below last closing price of €36.15. Stock is down 34% over the past year. The company is forecast to post a net loss per share of €1.46 next year compared to a net loss per share of €20.02 last year. Reported Earnings • May 09
First quarter 2024 earnings released: €0.83 loss per share (vs €3.03 loss in 1Q 2023) First quarter 2024 results: €0.83 loss per share (improved from €3.03 loss in 1Q 2023). Revenue: €658.4m (up 5.7% from 1Q 2023). Net loss: €32.0m (loss narrowed 60% from 1Q 2023). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Mar 22
Consensus EPS estimates fall by 138% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.659 to -€1.57 per share. Revenue forecast unchanged at €2.58b. Chemicals industry in Austria expected to see average net income growth of 19% next year. Consensus price target down from €36.21 to €32.26. Share price was steady at €30.10 over the past week. Price Target Changed • Mar 18
Price target decreased by 17% to €32.66 Down from €39.20, the current price target is an average from 5 analysts. New target price is 31% above last closing price of €24.85. Stock is down 60% over the past year. The company is forecast to post a net loss per share of €0.30 next year compared to a net loss per share of €20.02 last year. Reported Earnings • Mar 15
Full year 2023 earnings released: €20.02 loss per share (vs €2.75 loss in FY 2022) Full year 2023 results: €20.02 loss per share (further deteriorated from €2.75 loss in FY 2022). Revenue: €2.52b (down 1.7% from FY 2022). Net loss: €649.4m (loss widened €576.4m from FY 2022). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 29
Price target decreased by 10% to €36.66 Down from €40.80, the current price target is an average from 5 analysts. New target price is 27% above last closing price of €28.95. Stock is down 58% over the past year. The company is forecast to post a net loss per share of €9.69 next year compared to a net loss per share of €2.75 last year. Major Estimate Revision • Feb 09
Consensus EPS estimates fall by 28% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -€7.59 to -€9.69 per share. Revenue forecast of €2.46b unchanged since last update. Chemicals industry in Austria expected to see average net income growth of 14% next year. Consensus price target down from €40.80 to €39.20. Share price fell 6.3% to €28.15 over the past week. Announcement • Feb 01
Lenzing Group Teams Up with Recyc Leather and Ganni to Unveil New Footwear Materials Lenzing Group has partnered with leather alternative expert Recyc Leather to introduce Pelinova, an innovative material that fuses TENCEL™? Lyocell fibers and recycled leather fibers for high-end fashion applications. Joining forces with Danish advanced contemporary brand GANNI, this dynamic trio is set to bring this next-generation material to the market as an alternative to genuine leather materials, starting with GANNI's Slouchy Boots launching early this year. Pelinova: a hybrid alternative combining TENCEL™? L Tokyocell fibers and recycled leather fibers. Recyc Leather's next-generation material, Pelinova®?, is created through a unique, transparent process which involves collecting pre-consumer recycled leather and then hydro-jetting the leather fibers into the TENCEL™? Lanocell fibers, a standout material within the TENCEL™? brand portfolio that is produced from a resource-saving, closed-loop production process. TENCEL™? Liocell fibers are also unfavorable to odor-causing bacteria. The combined efforts between Lenzing and Recyc Leather result in a material which is supple, flexible, and durable, with a low environmental impact utilizing 70% less water than traditional methods and reducing CO2 emissions. Riding on this exciting breakthrough in footwear, Recyc Leather is also exploring the possibility of expanding the fabric application to other leather goods spanning home textiles, furniture, automobile interiors and the luxury segment. Elevating the GANNI partnership: GANNI is a B Corp. certified company, on a journey to become the most responsible version of itself. They believe it's a moral obligation to do better every day. GANNI is committed to minimizing social and environmental impact within its business operation with a goal to reach 50% absolute carbon reduction by 2027, with materials and innovation among its key pillars in reaching this target. In addition to footwear, GANNI sees the application of Recyc Leather's Pelinova®? with TENCEL™? Lycell fibers in the accessories category. GANNI, Recyc Leather, and Lenzing have future developments in the pipeline to get even closer to being able to scale the use of the material. During Premiere Vision Paris (PV Paris, February 6-8), Lenzing will be joined by Recyc Leather and GANNI at a panel discussion to share their collaborative experiences as a prime example of how companies can unite to create high-end fashion using responsibly produced recycled materials. For more interactive participation, visit the TENCEL™? brands at Booth 6D67 and Recyc Leather at Booth 6HUB11. Savings consider solvent recovery. The responsible production of TENCEL™? LTokcell and Modal fibers uses at least 50% less water and emits at least 50% less water. The responsible production of TENEL™? Lyocell and Modal fibers uses At least 50% less water and emissions at least 50% less water, and emits at least 50% more water. Major Estimate Revision • Jan 25
Consensus EPS estimates fall by 59% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -€4.24 to -€6.73 per share. Revenue forecast unchanged at €2.46b. Chemicals industry in Austria expected to see average net income growth of 1.1% next year. Consensus price target down from €43.60 to €40.80. Share price was steady at €30.00 over the past week. Major Estimate Revision • Dec 29
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €2.51b to €2.46b. Losses expected to increase from €3.58 per share to €4.24. Chemicals industry in Austria expected to see average net income growth of 3.9% next year. Consensus price target down from €44.60 to €43.60. Share price fell 2.3% to €35.55 over the past week. New Risk • Nov 07
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (5.4% average weekly change). Minor Risk Shareholders have been diluted in the past year (45% increase in shares outstanding). Reported Earnings • Nov 05
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: €0.97 loss per share (further deteriorated from €0.20 loss in 3Q 2022). Revenue: €615.5m (down 9.0% from 3Q 2022). Net loss: €44.3m (loss widened €39.0m from 3Q 2022). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Oct 12
Consensus estimates of losses per share improve by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from €2.52b to €2.56b. EPS estimate increased from -€2.96 per share to -€2.55 per share. Chemicals industry in Austria expected to see average net income growth of 4.3% next year. Consensus price target of €50.83 unchanged from last update. Share price rose 4.0% to €38.05 over the past week. Price Target Changed • Aug 04
Price target decreased by 7.7% to €57.24 Down from €62.04, the current price target is an average from 5 analysts. New target price is 33% above last closing price of €42.95. Stock is down 48% over the past year. The company is forecast to post a net loss per share of €2.80 next year compared to a net loss per share of €2.75 last year. Reported Earnings • Aug 03
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: €0.89 loss per share (down from €1.49 profit in 2Q 2022). Revenue: €627.1m (down 7.6% from 2Q 2022). Net loss: €23.7m (down 160% from profit in 2Q 2022). Revenue missed analyst estimates by 21%. Earnings per share (EPS) exceeded analyst estimates by 7.3%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. New Risk • Jul 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 45% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (7.1% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 171% Paying a dividend despite having no free cash flows. Minor Risk Shareholders have been diluted in the past year (45% increase in shares outstanding). Announcement • Jul 07
Lenzing Aktiengesellschaft has completed a Follow-on Equity Offering in the amount of €399.456758 million. Lenzing Aktiengesellschaft has completed a Follow-on Equity Offering in the amount of €399.456758 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 12,068,180
Price\Range: €33.1
Transaction Features: Rights Offering Reported Earnings • May 03
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: €3.03 loss per share (down from €0.87 profit in 1Q 2022). Revenue: €623.1m (up 1.3% from 1Q 2022). Net loss: €80.5m (down 450% from profit in 1Q 2022). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 73%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Major Estimate Revision • Mar 26
Consensus EPS estimates fall by 121% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -€0.18 to -€0.397 per share. Revenue forecast unchanged at €2.65b. Chemicals industry in Austria expected to see average net income decline 2.1% next year. Consensus price target up from €60.80 to €65.04. Share price fell 4.6% to €61.90 over the past week. Major Estimate Revision • Mar 16
Consensus EPS estimates fall from profit to €0.18 loss The consensus outlook for fiscal year 2023 has been updated. Expected to report loss instead of -€0.18 instead of €0.088 per share profit previously forecast. Revenue forecast unchanged at €2.64b Chemicals industry in Austria expected to see average net income decline 0.3% next year. Consensus price target of €60.80 unchanged from last update. Share price fell 10% to €64.80 over the past week. Reported Earnings • Mar 12
Full year 2022 earnings released: €2.75 loss per share (vs €4.16 profit in FY 2021) Full year 2022 results: €2.75 loss per share (down from €4.16 profit in FY 2021). Revenue: €2.57b (up 17% from FY 2021). Net loss: €73.1m (down 166% from profit in FY 2021). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Price Target Changed • Mar 09
Price target decreased by 18% to €60.80 Down from €74.30, the current price target is an average from 5 analysts. New target price is 16% below last closing price of €72.30. Stock is down 19% over the past year. The company is forecast to post a net loss per share of €1.07 compared to earnings per share of €4.16 last year. Major Estimate Revision • Mar 01
Consensus EPS estimates fall by 74% The consensus outlook for fiscal year 2022 has been updated. 2022 expected loss increased from -€0.442 to -€0.77 per share. Revenue forecast unchanged at €2.49b. Chemicals industry in Austria expected to see average net income growth of 0.2% next year. Consensus price target broadly unchanged at €74.64. Share price was steady at €70.50 over the past week. Valuation Update With 7 Day Price Move • Jan 04
Investor sentiment improved over the past week After last week's 20% share price gain to €65.80, the stock trades at a forward P/E ratio of 577x. Average forward P/E is 16x in the Chemicals industry in Europe. Total loss to shareholders of 16% over the past three years. Major Estimate Revision • Dec 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €0.87 to €0.23 per share. Revenue forecast steady at €2.54b. Net income forecast to shrink 83% next year vs 2.5% decline forecast for Chemicals industry in Austria. Consensus price target of €73.90 unchanged from last update. Share price fell 15% to €56.50 over the past week. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €54.20, the stock trades at a forward P/E ratio of 91x. Average forward P/E is 16x in the Chemicals industry in Europe. Total loss to shareholders of 33% over the past three years. Major Estimate Revision • Nov 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €1.63 to €0.95 per share. Revenue forecast steady at €2.54b. Net income forecast to shrink 71% next year vs 2.8% growth forecast for Chemicals industry in Austria . Consensus price target down from €78.30 to €73.90. Share price was steady at €68.40 over the past week. Reported Earnings • Nov 05
Third quarter 2022 earnings released: €0.20 loss per share (vs €0.71 profit in 3Q 2021) Third quarter 2022 results: €0.20 loss per share (down from €0.71 profit in 3Q 2021). Revenue: €676.5m (up 22% from 3Q 2021). Net loss: €5.30m (down 128% from profit in 3Q 2021). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Chemicals industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improved over the past week After last week's 17% share price gain to €55.60, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 15x in the Chemicals industry in Europe. Total loss to shareholders of 38% over the past three years. Announcement • Nov 03
Lenzing AG Appoints Nico Reiner as Chief Financial Officer The Supervisory Board of Lenzing AG, has appointed Nico Reiner as its new Chief Financial Officer. Mr. Reiner will join Lenzing's Managing Board led by Chief Executive Officer Stephan Sielaff on January 1, 2023. He will succeed Chief Financial Officer Thomas Obendrauf, who is leaving the company of his own volition after seven years. Nico Reiner has held several positions in his professional career to date, including CFO at globally operating companies such as Schüco Group, AL-KO Group and Pfleiderer Group, as well as management consultant roles. His most recent appointment was as CFO of Vacuumschmelze GmbH & Co. KG, a global player with headquarters in Hanau that specializes in the development, production and marketing of magnetic materials. Born in Grünwald near Munich, Mr. Reiner graduated from the University of Regensburg with a degree in business administration and has a doctorate from HHL Leipzig Graduate School of Management. Chief Financial Officer Thomas Obendrauf notified the Supervisory Board in March that he would not be extending his contract when it came to an end inJune 2022 as after seven years at Lenzing, he is leaving to pursue a career change. Until Mr. Reiner joins the company, Stephan Sielaff will continue to assume the role of CFO on an interim basis, with Mr. Obendrauf supporting the company in an advisory capacity. Price Target Changed • Oct 05
Price target decreased to €107 Down from €127, the current price target is an average from 5 analysts. New target price is 104% above last closing price of €52.20. Stock is down 49% over the past year. The company is forecast to post earnings per share of €5.10 for next year compared to €4.16 last year.