Lenzing, the leading global producer of wood-based specialty fibres from Austria, has just witnessed its half-yearly (H1) revenue jump by 25.2 per cent to € 1.29 billion.
The company has majorly attributed the revenue growth to higher fibre prices.
While EBITDA fell by 13.3 per cent to € 188.9 million, the EBITDA margin reduced from 21.1 per cent to 14.6 per cent in the 6-month period.
Continuous increase in the costs of raw materials, logistics and energy hit the company’s earnings during H1.
Consequently, Lenzing’s H1 net profit fell by 24.8 per cent to € 72.3 million.
However, despite uncertainties stemming from the ongoing Russia-Ukraine war and COVID-19, Lenzing is hopeful that EBITDA for 2022 will be significantly above the level of 2021.
Founded in 1938, Lenzing produces wood-based viscose fibres, modal fibres, lyocell fibres and filament yarns, which are used in the textile industry – in clothing, home textiles and technical textiles – as well as in the nonwovens industry.
