EANS-Adhoc: Lenzing AG / Lenzing suspends 2020 guidance due to COVID-19 crisis EAE

3/24, 11:28 PM (Source: euro adhoc)


Chart for: LENZING AG


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  Disclosed inside information pursuant to article 17 Market Abuse Regulation
  (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
  The issuer is responsible for the content of this announcement.

Earnings Forecast

Lenzing - As a result of the global COVID-19 crisis, the Lenzing Group expects
based on recent developments a negative impact on its textile sales volume. The
potential impact cannot yet be reliably estimated, as it strongly depends on the
duration of the crisis as well as its further effects on the global economy and
textile markets. Consequently, Lenzing suspends its result forecast for 2020 as
disclosed on March 12, 2020, when it expected the result for 2020 to be below
the level of 2019. In order to mitigate a potentially stronger than expected
decline in earnings, Lenzing has already started to implement cost saving
measures across its sites globally.

Further inquiry note:
Filip Miermans
Vice President Corporate Communications
Lenzing AG
Phone: +43 7672 701 2743
E-mail: f.miermans@lenzing.com

end of announcement                         euro adhoc

issuer:       Lenzing AG

A-4860 Lenzing
phone:        +43 7672-701-0
FAX:          +43 7672-96301
mail:         office@lenzing.com
WWW:          http://www.lenzing.com
ISIN:         AT0000644505
indexes:      ATX, WBI
stockmarkets: Wien
language:     English

EAX0008    2020-03-24/23:28

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