Lenzing announces nine-month report

Austria-based manufacturer of textile and nonwovens cellulose fibres such as modal and lyocell, Lenzing Group AG has released this year’s nine-month financial report.

During the period under review, the company’s revenue increased by 8.2 per cent to Euro 1,578 million as against Euro 1458.9 million in the corresponding period last year. While net profit increased from Euro 84.8 million to Euro 162.1 million, Earnings Before Interest and Tax (EBIT) also went up from Euro 112.0 million in the first nine months of last year to Euro 221.7 million in the same period of current year.

In the three-quarter period, EBITDA also saw an improvement of 52.2 per cent to Euro 320.6 million as against Euro 210.6 million over the same period of previous year. The sharp increase in Viscose prices in the third quarter specifically fuelled the results. Moreover, owing to the good business in the nine months, operating cash flow also doubled to Euro 374.9 million as compared to the same period last year.

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Stefan Doboczky, Chief Executive Officer of Lenzing AG said, “The Lenzing Group continues to implement the sCore TEN strategy with great discipline and the excellent business performance further helped our already strong balance sheet. These nine months underpin our confidence and are an excellent basis for the implementation of our ambitious growth program.”