Half Year 2022 Lenzing AG Earnings Call Transcript
Also from my side, a very warm welcome on behalf of the Lenzing AG and the Lenzing Management Board, today's analyst call to discuss the results of the first half year 2022.
So how was the first half year 2022? We saw a lot of lights but also some shadows. While we can report a significant increase in our revenues of about 25%, up to an absolute level of close to EUR 1.3 billion, at the same time, however, our EBITDA is slightly down to a level of almost EUR 190 million compared to EUR 218 million in the same period of the previous year.
Two main drivers. On one hand side, massive cost development; at the other side also having 2 major plants in a ramp up. Overall, I am pretty satisfied with our ability to pass on close to 90% of the cost increases. As a result of our EBITDA development, the net income as well as the earnings per share are also down versus the same period in last year.
Let's look at some highlights of the first half year. First and foremost, I would like to mention
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