Solid financial position

Lenzing has a solid financial position. Thus at the end of 2015 the Lenzing Group boasted an equity ratio of 50.6% and a liquidity cushion of EUR 546.2 mn.

Solid financial position
According to IFRS (EUR mn) 31 Dec. 2016 31 Dec. 2015¹ Change in %
Total assets2,625.3 2,410.6 8.9
Liquid assets²570.4355.3 60.5
  thereof liquid funds 559.6347.3 61.1
Total liabilities 1,256.8 1,211.8 3.7
  thereof financial liabilities 577.5 683.2 (15.5)
Adjusted equity³1,390.5 1,218.6 14.1
Adjusted equity ratio (%) 53.0 50.6 -
Net gearing (%) 0.5 26.9 -
Net financial debt7.2 327.9 (97.8)
Net financial debt/EBITDA 0.0 1.1 (98.5)
ROCE15.1% 8.1% -
According to IFRS (EUR mn) 31 Dec. 2016 31 Dec. 2015Change in %
Total liquidity cushion788.0 546.2 44.3
  thereof liquid assets²570.4355.3 60.5
  thereof unused credit facilities 217.7190.9 14.0
  1. Error correction in accordance with IAS 8 (see Consolidated Financial Statements 2016 of the Lenzing Group)
  2. Including cash and cash equivalents, liquid securities and liquid bills of exchange
  3. Including government grants less proportionate deferred taxes on government grants