Lenzing Ag · VIE:LNZ
Lenzing — Q3 2017 Earnings Presentation
73 slides from Lenzing's earnings presentation, Nov 15, 2017
Slide 1: Lenzing Investor Presentation Result 01-09/2017
Lenzing Investor Presentation Result 01-09/2017 November 15, 2017
Slide 2: Disclaimer
Disclaimer The information contained in this document has not been independently verified and no representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein.
Slide 3: Highlights 01-09/2017
Highlights 01-09/2017 Lenzing successfully continues to capture market value Group revenue up 9.4% to EUR 1,726.6 mn primarily as a result of higher selling prices and an improved product mix Continuous strong EBITDA improvement with EUR 397.1 mn up 23.9% Retail bond redeemed (EUR 120 mn); L
Slide 4: Wood-based fibers outgrow market
Wood-based fibers1 outgrow market Expected growth of global fiber demand until 2020 Million metric tons 120 CAGR MMCF (2015e – 2020p) Synthetics 100 Cotton other Natural fibers / Wool Wood-based 5-6% p.a. 80 fibers1 60 Synthetic fibers 3-4% p.a. 40 Cotton 1-2% p.a. 20 Total fiber market 3-4% p.a. 0
Slide 5: Viscose supply forecast is difficult due to limited visibility of capacity additions
Viscose supply forecast is difficult due to limited visibility of capacity additions Varying ranges of capacity additions Capacities, mt mentioned by industry sources 6.3 – 6.6 Timing of start-ups Permits 5.4 5.7 Impact of Chinese environmental inspections triggering temporary/permanent shut
Slide 6: sCore TEN investment program
sCore TEN investment program Debottlenecking of pulp and specialty fibers Around EUR 100 mn in pulp Around EUR 100 mn in specialty fibers Lyocell brownfield project of 90 kt in Mobile/USA in execution Construction started in H1/2017 First buildings under construction Lyocell greenfield
Slide 7: Interfiber price development
Interfiber price development1 Staple fiber prices - Development in China USD/kg (incl. VAT) 3.5 3.0 2.5 2.0 1.5 1.0 0.5 01/2014 06/2014 11/2014 04/2015 09/2015 02/2016 07/2016 12/2016 05/2017 10/2017 Viscose Cotton Polyester Sources: China Cotton Association, China Chemical & Fiber Economic Informat
Slide 8: Cotton market in Q3/2017
Cotton market in Q3/2017 Cotton market Average Cotlook A-Index was mn tons 30 at USD 81.3 cents/lbs in Q3/2017 (+2% y-o-y) 25 24.18 23.05 24.56 25.38 25.22 21.48 Cotton outlook 2017/18e projection 20.24 18.55 18.70 20 Production to increase and exceed consumption 15 10 World ending stocks to
Slide 9: Viscose prices were rising in Q3/2017
Viscose prices were rising in Q3/2017 VSF1 price trend and inventory of China yuan/MT day Q3/2017: After declining prices in Q2 VSF1 prices 18,000 30 17,000 increased to RMB 16,190/mt at September 30, 2017. 16,000 20 Compared to the beginning of the year VSF prices 15,000 14,000 declined by 3.% 13
Slide 10: TENCEL Luxe – The new lyocell filament
TENCELTM Luxe – The new lyocell filament New specialty fiber presented in October 2017 Entrance in the filament market Positioning in the high-end fiber market Superior aesthetics, performance, comfort and outstanding color fastness Perfect partner with other noble fibers such as silk, cas
Slide 11: Sustainability – setting standards in viscose
Sustainability – setting standards in viscose Changing Markets’ Dirty Fashion Study of June 2017 increased attention on sustainability in the viscose fiber industry Lenzing will use its leading role in sustainability in the industry Actively engage with all stakeholders to drive the change in
Slide 12: Financials – Revenue (EUR mn)
Financials – Revenue (EUR mn) +6.3% Share of specialty fibers +9.4% in 01-09/2017 586.2 577.5 1,726.6 13.7% 562.9 555.7 1,578.4 543.5 41.1% 45.2% Q3/2016 Q4/2016 Q1/2017 Q2/2017 Q3/2017 01-09/2016 01-09/2017 Speciality fibers Standard fibers Group revenue Group revenue Other business areas 1) Specia
Slide 13: Financials – EBITDA (EUR mn)
Financials – EBITDA (EUR mn) EBITDA margin EBITDA margin 23.1% 19.4% 23.0% 24.1% 21.9% 20.3% 23.0% +0.7% +23.9% 397.1 135.1 135.6 125.5 126.4 320.6 107.7 Q3/2016 Q4/2016 Q1/2017 Q2/2017 Q3/2017 01-09/2016 01-09/2017 EBITDA EBITDA 13
Slide 14: Financials – EBIT (EUR mn)
Financials – EBIT (EUR mn) EBIT margin EBIT margin 16.9% 13.4% 17.5% 18.1% 16.3% 14.0% 17.3% +2.5% +34.6% 102.3 101.8 92.0 94.2 298.4 74.6 221.7 Q3/2016 Q4/2016 Q1/2017 Q2/2017 Q3/2017 01-09/2016 01-09/2017 EBIT EBIT 14
Slide 15: Financials – Net profit and earnings per share
Financials – Net profit (EUR mn) and earnings per share (EUR)1 EPS1 (EUR) EPS1 (EUR) 2.49 2.50 2.75 2.80 2.57 5.98 8.12 +2.2% +35.3% 219.3 75.0 75.3 69.0 67.5 67.0 162.1 Q3/2016 Q4/2016 Q1/2017 Q2/2017 Q3/2017 01-09/2016 01-09/2017 Group net profit Group net profit 1) Attributable to Lenzing AG shar
Slide 16: Financials – Key figures (EUR mn)
Financials – Key figures (EUR mn) 900 Change According to IFRS (EUR mn) Sept. 30, 2017 Dec. 31, 2016 in % Total assets 2,500.5 2,625.3 (4.8) 700 612 Liquid assets1 396.7 570.4 (30.4) (607) 543 (577) 570 (545) 521 thereof liquid funds 388.0 559.6 (30.7) (511) 500 Total liabilities 1,049.5 1,256.8 (16
Slide 17: Cash flow development and trading working capital
Cash flow development and trading working capital (EUR mn) (11.0)% (Gross CF) (42.1)% (Operating CF) (92.9)% (Free CF adj.) 0.3% (Trading Working Capital) 500 30.0% 121.8 450 110.4 86 106.1 106.1 105.2 83 50 103.1 400 98.5 98.2 46 18 95.1 25.0% 350 383 380 384 384 82.5 21.5% 353 79.3 300 20.8% 61.4
Slide 18: Outlook 2017 – Fiber market and Lenzing Group
Outlook 2017 – Fiber market and Lenzing Group Demand development on the global fiber market remains positive within the context of a generally friendly macroeconomic environment. Lenzing expects wood-based cellulose fibers to grow at an even higher rate than the overall fiber market. After three e
Slide 19: Q3/2017 – Financial information
Q3/2017 – Financial information
Slide 20: 01-09/2017: Consolidated Group P&L
01-09/2017: Consolidated Group P&L (EUR mn) Q3/2017 Q2/2017 Q3/2016 01-09/2017 01-09/2016 Revenue 577.5 562.9 543.5 1,726.6 1,578.4 Change in inventories of finished goods and work in progress (2.5) 20.4 (3.8) (3.5) (11.8) Own work capitalized 12.6 10.5 6.5 32.4 18.0 Other operating income 11.8 14.1
Slide 21: 01-09/2017: Topline breakdown
01-09/2017: Topline breakdown Change Change Change (EUR mn) Q3/2017 Q2/2017 Q3/Q2 (%) Q3/2016 Q3/Q3 (%) 01-09/2017 01-09/2016 y-o-y (%) Breakdown of Fibers segment revenue Textile fibers (%) 70.2 69.2 1.4 70.6 (0.6) 70.3 70.8 (0.8) Nonwoven fibers (%) 29.8 30.8 (3.2) 29.4 1.3 29.7 29.2 1.8 Fibers on
Slide 22: 01-09/2017: Total Opex structure
01-09/2017: Total Opex structure Q3/2017 (Total Opex EUR 473.1 mn) 01-09/2017 (Total Opex EUR 1,397.0 mn) 13.9% 14.1% 65.6 197.3 18.9% 89.3 18.8% 67.3% 263.1 67.0% 318.2 936.6 Q3/2016 (Total Opex EUR 431.4 mn) 01-09/2016 (Total Opex EUR 1,297.9 mn) 12.4% 53.6 13.4% 173.9 19.3% 83.1 18.4% 68.3% 239.1
Slide 23: Q3/2017: Net debt bridge
Q3/2017: Net debt bridge 130.4 1 55.7 2 Change in total working capital EUR (35.8) mn3 44.1 8.3 0.0 0.0 0.7 0.6 16.9 10.3 26.8 5.4 Net Liquidity Tax Net Cash Capex Change in Transaction Currency Others Net liquidity Q2/2017 Gross CF Change in Dividend Interest (incl. Fin. Trading WC other WC from th
Slide 24: 01-09/2017: Net debt bridge
01-09/2017: Net debt bridge Change in total working capital EUR (64.2) mn3 129.5 2 35.7 28.5 7.2 111.6 3.1 2.3 3.3 16.9 64.2 7.5 397.01 Transaction Net Financial Cash Capex from the sale Debt FY (incl. Fin. Change in Change in of Currency Net Liquidity 2016 Tax Net Interest Gross CF Ass.) Trading WC
Slide 25: 01-09/2017: Cash flow
01-09/2017: Cash flow Change Change Change (EUR mn) Q3/2017 Q2/2017 Q3/Q2 (%) Q3/2016 Q3/Q3 (%) 01-09/2017 01-09/2016 y-o-y (%) Gross CF (before taxes and interest) 130.4 134.1 (2.8) 121.8 7.1 397.0 320.6 23.9 Taxes and interest (32.1) (28.9) 11.3 (11.4) 182.4 (71.7) (37.8) 89.8 Gross CF (after taxe
Slide 26: 2016 – Backup financial information
2016 – Backup financial information
Slide 27: FY 2016: Consolidated Group P&L
FY 2016: Consolidated Group P&L Change (EUR mn) 2016 2015 y-o-y (%) Revenue 2,134.1 1,976.8 8.0 Change in inventories of finished goods and work in progress 6.4 (7.3) - Own work capitalized 21.8 29.2 (25.4) Other operating income 45.5 45.7 (0.4) Cost of material and purchased services (1,223.8) (1,2
Slide 28: FY 2016: Consolidated Group P&L – Quarters
FY 2016: Consolidated Group P&L – Quarters Change Change (EUR mn) Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q4/Q3 (%) Q4/2015 Q4/Q4 (%) Revenue 512.8 522.0 543.5 555.7 2.2 518.0 7.3 Change in inventories of finished goods and work in progress (10.4) 2.4 (3.8) 18.2 - 8.6 111.8 Own work capitalized 6.1 5.4 6.5
Slide 29: FY 2016: Topline breakdown
FY 2016: Topline breakdown Change Change Change (EUR mn) Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q4/Q3 (%) Q4/2015 Q4/Q4 (%) 2016 2015 y-o-y (%) Breakdown of Fibers segment revenue Textile fibers (%) 70.7 71.2 70.6 71.0 0.4 71.6 (0.6) 70.9 69.6 1.3 Nonwoven fibers (%) 29.3 28.8 29.4 29.0 (0.4) 28.4 0.6 29.1
Slide 30: Financials 2016 – Earnings per quarter
Financials 2016 – Earnings per quarter (EUR mn) EBITDA margin EBIT margin EPS (EUR) 1 15.4% 18.0% 19.7% 23.1% 19.4% 7.6% 11.6% 13.5% 16.9% 13.4% 1.55 1.64 1.85 2.49 2.50 +35.4% +90.7% +54.9% 125.5 92.0 102.9 107.7 92.2 74.6 67.5 67.0 70.3 79.5 59.5 50.3 43.3 44.2 39.1 Q4/2015 Q1/2016 Q2/2016 Q3/2016
Slide 31: Financials 2016 – Earnings
Financials 2016 – Earnings (EUR mn) EBITDA margin EBIT margin EPS1,2 (EUR) 16.9% 11.8% 12.9% 14.7% 20.1% 11.1% 4.5% 1.2% 7.6% 13.9% 6.61 1.89 (0.92) 4.78 8.48 +47.6% +96.1% +78.9% 428 229 296 352 181 290 232 128 225 240 151 86 50 22 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 2012 2013 2014 20
Slide 32: FY 2016: OPEX as of total sales
FY 2016: OPEX as of total sales Change Change Change (EUR mn) Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q4/Q3 (%) Q4/2015 Q4/Q4 (%) 2016 2015 y-o-y (%) Total sales 512.8 522.0 543.5 555.7 2.2 518.0 7.3 2,134.1 1,976.8 8.0 Total OPEX1 (427.7) (438.8) (431.4) (481.6) 11.6 (463.4) 3.9 (1,779.6) (1,754.4) 1.4 Tot
Slide 33: FY 2016: Solid balance sheet
FY 2016: Solid balance sheet1 as at Dec. 31, 2016 According to IFRS (EUR mn) 31 Dec. 31 Dec. 20151 Change 2016 in % ∑ EUR 2,625.3 mn 3,000.0 ∑ EUR 2,625.3 mn Total assets 2,625.3 2,410.6 8.9 Liquid assets2 570.4 355.3 60.5 2,500.0 thereof liquid funds 559.6 347.3 61.1 Total liabilities 1,256.8 1,211
Slide 34: FY 2016 Total opex structure
FY 2016 Total opex structure 2015 (Total Opex EUR 1,754.4 mn) 2016 (Total Opex EUR 1,779.6 mn) 235.9 236.6 13.4% 13.3% 319.2 300.2 17.9% 17.1% 1,218.3 1,223.8 69.4% 68.8% Cost of material and purchased services Cost of material and purchased services Personnel expenses Personnel expenses Other opera
Slide 35: FY 2016: Net debt bridge
FY 2016: Net debt bridge EUR mn 16.5 445.41 43.0 327.9 Change in total working capital EUR 90.3 mn 3 2 110.8 52.3 53.2 1.4 0.6 6.5 7.2 38.0 Net Financial Debt Tax Net Interest Gross CF Cash Capex (incl. Change in Trading Change in other Dividend Transaction from Currency Others Net Financial Debt FY
Slide 36: FY 2016: Cash flow by quarters
FY 2016: Cash flow by quarters Change Change Change (EUR mn) Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q4/Q3 (%) Q4/2015 y-o-y (%) 2016 2015 y-o-y (%) Gross cash flow (before taxes and interest) 95.0 103.8 121.8 124.8 2.5 82.2 51.8 445.4 321.8 38.4 Taxes and interest (12.6) (13.8) (11.4) (21.7) 90.3 (9.7) 123
Slide 37: Cash flow development and trading working capital (EUR mn)
Cash flow development and trading working capital (EUR mn) + 35.7% (Gross CF) + 119.6% (Operating CF) + 152.6% (Free CF adj.) (15.2%) 600.0 48.0% 500.0 43.0% 447.4 473.4 38.0% 393.7 395.7 400.0 379.6 385.9 363.8 33.0% 366.3 21.3% 28.0% 284.5 300.0 21.6% 19.5% 248.0 17.4% 23.0% 230.8 218.8 209.4 215.
Slide 38: Financials 2016 – Key figures (EUR mn)
Financials 2016 – Key figures (EUR mn) 1,600 70.0% 900 875 1,390 801 1,400 65.0% 800 730 1,219 683 1,153 1,110 1,200 1,055 60.0% 700 529 577 600 570 1,000 55.0% 505 500 450 800 50.0% 45.5% 44.7% 53.0% 400 355 43.8% 346 296 600 50.6% 45.0% 280 300 400 40.0% 200 328 100 200 35.0% 7 0 0 30.0% 2012 2013
Slide 39: Appendix – Equity story
Appendix — Equity story Y 1 ae © “te _ ANP | y QEENZING
Slide 40: Lenzing – Our mission
Lenzing – Our mission “Lenzing is a performance materials company that turns CO2 and sunlight into highly functional, emotional and aesthetic products across the globe” 1 1 1 1 1 1) Lenzing brands 40
Slide 41: Global fiber market at a glance
Global fiber market at a glance 2016e consumption numbers Wool Cellulose- & 1.1% protein-based fibers Cotton 24.1% 102 mn tons Other natural fibers1 Synthetic fibers 4.8% 63.7% Wood-based fibers2 Viscose/Rayon Wood-based Modal fibers2 6.3% TENCEL® fiber/Lyocell 1) Incl. bast, flax, hemp, jute,
Slide 42: Lenzing - Market leader in all three fiber generations
Lenzing - Market leader in all three fiber generations Competitive Brands Market Position Intensity #1 Low #1 Medium #2 High Source: Lenzing data, CCFG, CCFEI TENCEL® fibers, Lenzing Modal® fibers and Lenzing Viscose® fibers are registered trademarks of the Lenzing Group 42
Slide 43: Lenzing is the only player with European roots in the viscose staple fibers market
Lenzing is the only player with European roots in the viscose staple fibers market1 (2016e) … Lenzing with 18% share of production Lenzing with 17% share of capacities2 Lenzing Lenzing Others 18% 17% 28% Others 27% 5.3 mn tons Birla 5.9 mn tons Birla 17% 17% Yamei Yamei 5% 5% Aoyang Aoyang 5% Zhongt
Slide 44: … and is the global leader in wood-based cellulose fibers
… and is the global leader in wood-based cellulose fibers Balanced exposure to matured and Global network of production sites and emerging markets sales offices Fiber revenue by region 2016 footprint AMEA (Asia, Middle North Asia East and Africa) 37% 36% Europe & Americas 27% Source: Lenzing data as
Slide 45: Capacity 2017: A global footprint
Capacity 20171: A global footprint Europe2 China Total capacity at year end CAGR 5.3% CAGR 0 % CAGR 2.4% 444 444 457 458 373 992 995 1,009 1,013 181 181 921 172 172 105 155 222 222 232 235 107 110 110 111 112 107 110 110 111 112 178 178 178 178 178 161 162 162 165 165 659 660 663 666 666 2013 2014 2
Slide 46: sCore TEN investment program advances
sCore TEN investment program advances Debottlenecking of pulp and specialty fibers on track Around EUR 100 mn in pulp Around EUR 100 mn in specialty fibers Lyocell brownfield project of 90 kt in Mobile/USA in execution Investment of USD 293 mn at existing site in Mobile/USA Construction
Slide 47: Textile and Nonwovens are the two main applications
Textile and Nonwovens are the two main applications Textile Nonwovens Size 88.6 mt (~90% of fiber market) 9.2 mt (~10% of fiber market) Regional Over 90% in China, India and Asia-Pacific Mainly a regional market (due to high logistic costs) focus High Low: Top 5 to 10 players hold between 60-80% sha
Slide 48: Long-term interfiber price development
Long-term interfiber price development1 Staple fiber prices - Development in China USD/kg (incl. VAT) 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 01/2010 08/2010 04/2011 12/2011 08/2012 03/2013 11/2013 07/2014 03/2015 10/2015 06/2016 02/2017 10/2017 Viscose Cotton Polyester Sources: China Cotton Associa
Slide 49: Distinct trends are emerging
Distinct trends are emerging Textiles Need for sustainable supply chains across the globe Fast fashion Focus on functionality Nonwovens Need for higher cleanliness Need to improve eco-footprint of downstream products High innovation headroom 49
Slide 50: Focus on innovations: Industry leading R&D spend
Focus on innovations: Industry leading R&D spend R&D is an essential part of the sCore TEN strategy R&D expenditures increased more than 50% R&D expenses (2013-2017e)1 Strong innovation pipeline New testing facilities and pilot plants EUR mn % 60 2.5 RefibraTM fiber: milestone in lyocell f
Slide 51: Lenzing is innovation leader in lyocell with TENCEL fibers
Lenzing is innovation leader in lyocell with TENCEL® fibers TENCEL® fibers: Outstanding functionality and highly eco-friendly 1 Lenzing has strong global footprint and cost leadership Excellent in shaping and creating lyocell market through Branding: TENCEL® fibers Application development
Slide 52: Sales and marketing - Customer concentration
Sales and marketing - Customer concentration Textiles Percent of sales by customers Nonwovens Percent of sales by customers (20161) (20161) 62.7% 48.3% 45% 33.6% 31 % 21 % Top 5 Top 10 Top 20 Top 5 Top 10 Top 20 Source: Lenzing data 2016 52
Slide 53: Looking forward: Megatrends support fiber demand growth
Looking forward: Megatrends support fiber demand growth Population growth and higher purchasing power in the emerging markets drive overall fiber growth Industrial world Developing world CAGR CAGR 2010-2020 6.75 2010-2020 5.27 5.99 Population 0.85 0.91 0.96 in bn +0.5% +1.2% 42.1 33.4 36.3 5.2 GDP g
Slide 54: Wood-based fibers outgrow market
Wood-based fibers1 outgrow market Expected growth of global fiber demand until 2020 Million metric tons 120 CAGR MMCF (2015e – 2020p) Synthetics 100 Cotton other Natural fibers / Wool Wood-based 5-6% p.a. 80 fibers1 60 Synthetic fibers 3-4% p.a. 40 Cotton 1-2% p.a. 20 Total fiber market 3-4% p.a. 0
Slide 55: China remains the growth engine in global textiles
China remains the growth engine in global textiles Global textile demand by value (2003-2020) CAGR EUR bn (2013-2020e) 1,515 25% China 9.2% 1,144 18% 15% Rest of Asia 3.1% 842 7% 16% 19% North America 1.4% 17% 23% 31% 27% Europe 2.4% 31% 36% 8% 12% 13% ROW 5.3% 2003 2013 2020e Source: ICAC World Tex
Slide 56: Sustainability is gaining importance
Sustainability is gaining importance Less than 1% of global water resources is available as fresh Arable land is decreasing due to Oil is a finite resource causing water for people erosion and urbanization negative externalities ▪ But water consumption is rising due ▪ With a growing global populatio
Slide 57: Lenzing’s sustainability strategy
Lenzing’s sustainability strategy “Lenzing balances the needs of society, the environment and shareholders and is a sustainability leader in its industry. Creating substantially more positive impacts or benefits is the guiding torch for our innovation and business practices.” Four focus areas Wo
Slide 58: Certificates and recognitions
Certificates and recognitions VÖNIX (Austrian Sustainability Index) OK compost HOME (Vincotte) The European Eco-Label (European Flower) OK biodegradable SOIL (Vincotte) Responsible Care OK biodegradable MARINE OEKO-TEX® Standard 100 Food contact compliance (mainly based on European
Slide 59: Lenzing EcoVero - The new standard in eco-responsible viscose
Lenzing™ EcoVero™ - The new standard in eco-responsible viscose! Lenzing™ EcoVero™ fibers are the innovative 30 and unique answer to the increasing demand for sustainable products along the textile 25 value chain MSI score, points/kg fiber Worldwide highest environmental standards 20 in the visc
Slide 60: Refibra fibers: The game changing fibers in the first collection
RefibraTM fibers: The game changing fibers in the first collection RefibraTM fibers for the circular economy (Closed loop system) Combination of lyocell technology with pioneering use of recycled cotton off-cuts Upscaling of cotton and significant reduction of cotton scraps in the garment prod
Slide 61: Dissolving wood pulp is the basis for our sustainable products
Dissolving wood pulp is the basis for our sustainable products Our business is part of a natural closed cycle We only use wood from sustainable forestry Photosynthesis PEFC controlled1 9% PEFC Disposal Trees 21% FSC mix 37% Use Pulp 33% Textiles and Cellulose nonwovens products fiber production FSC
Slide 62: Dissolving wood pulp production
Highly efficient use of the raw materials The Lenzing site is fully integrated. Dissolving wood pulp production at the Lenzing and Paskov sites achieve a wood utilization rate of about 100% (incl. energy use). Biorefinery products Dissolving ~40% wood pulp Biochemicals Dissolving Acetic acid wood pu
Slide 63: Fiber production fully secured by a robust pulp supply
Fiber production fully secured by a robust pulp supply Level of backward integration: Own pulp supply in percentage of annual fiber capacity >50% secured by own pulp production Remaining pulp is secured Total annual through long-term contracts fiber capacity (100%) 58% 56% 56% 56% 46% 2012 2013
Slide 64: The new strategy – driving value growth
The new strategy – driving value growth Business Customer Intimacy Areas New Forward Strengthen Solutions the Core Specialization 64
Slide 65: Strengthen the Core
Strengthen the Core Further strengthen pulp position Business via backward integration and/or strategic co-operations Maintain quality leadership 1 Customer Intimacy Deliver EUR 50 mn EBITDA by 2017 with commercial and Areas operational excellence program New Forward Strengthen Strengthen ou
Slide 66: Customer Intimacy, Specialization, Forward Solutions and New Business Areas
Customer Intimacy, Specialization, Forward Solutions and New Business Areas Increase management Business presence and decision power in the regions Customer Establish two additional Intimacy regional application and Select and establish new 2 customer innovation centers emerging business areas
Slide 67: Strategy implementation and target achievement ahead of plan
Strategy implementation and target achievement ahead of plan 2014 2015 2016 Targets EBITDA growth - 21% 48% 10% p.a. (vs 2014 baseline) ROCE (0.1) 8.1 15.1 ≥10% Net financial debt/EBITDA 1.9 1.1 0.0 <2.5 67
Slide 68: Backup
QEENZING
Slide 69: Where you can find our fibers
Where you can find our fibers Apparel/Home & Interiors - close to skin 69
Slide 70: Where you can find our fibers
Where you can find our fibers Nonwovens Facial masks Wipes Hygiene articles 70
Slide 71: Where you can find our fibers
Where you can find our fibers New Business Development & Technical textiles In automotive Packing solutions with Botanic Shoe with TENCEL® fiber (car seats, tires, injection Lenzing Modal® COLOR fiber TENCEL® fiber shoe complete (shoe molding, …) (vegetable and fruit nets – soles, lining, uppe
Slide 72: Lenzing share information
Lenzing share information Oberbank AG 3.97% ISIN LNZ / AT0000644505 Bloomberg LNZ:AV Reuters LNZNF.PK ATX Prime, ATX Global Players, VÖNIX Indices Sustainability Index B&C Privatstiftung Number of shares 26,550,000 50.00% Share price Sept. 29, 2017 EUR 122.7 Market capitalization EUR 3,257.69 mn Sep
Slide 73: Contacts and financial calendar
Contacts and financial calendar Investor Relations contact Financial calendar Stephanie Kniep Result 01-09/2017 November 15, 2017 Head of Investor Relations Full year result 2017 March 14, 2018 Corporate Communications & Investor Relations 74th Annual General Meeting April 12, 2018 Phone: +43 76