Turnover and profit fall at Lenzing in 2019

2019 revenue at Lenzing Group dropped by 3.3 percent to 2.11 billion euros (2.39 billion dollars), driven by lower selling prices as well as standard fibre volumes. The company said in a statement that due to positive mix effects and more resilient specialty fibre prices, the share of specialty fibres increased from 45.5 percent to 51.6 percent of revenue. The company added that earnings development was largely influenced by the decline in revenue and negative currency effects on material and personnel costs. EBITDA fell by 14.4 percent to 326.9 million euros (369.9 million dollars), while the EBITDA margin declined from 17.6 percent to 15.5 percent. Net profit, at 114.9 million euros (130 million dollars), was 22.4 percent lower than in the previous year, while earnings per share amounted to 4.63 euros compared to 5.61 euros in 2018.