Lenzing Group news and archive

Lenzing says restructuring, currency effects and slow economy to impact earnings

Adjusting its earnings forecast for the year, the Lenzing Group said, it now expects EBITDA to be around 250 million euros. The company added that restructuring expenses impacting the forecast, result from parts of the savings program that was initiated in the third quarter due to the deterioration in the market environment and the development...

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Lenzing introduces cost saving program to boost growth

The Lenzing Group reported revenue growth of 24 percent year-on-year to reach 1.97 billion euros, primarily due to higher fibre prices. EBITDA for the period decreased by 11.6 percent to 263 million euros, while net profit decreased by 33.9 percent to 74.9 million euros, and earnings per share amounted to 2.16 euros in the first three quarters...

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Lenzing suspends earnings outlook due to low market visibility

The Lenzing Group has suspended its earnings guidance for the 2022 financial year due to drastic deterioration of the market environment in the current quarter. The company said in a release that further course of the 2022 financial year can only be estimated to a limited extent due to extremely low visibility on the demand side and high...

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Lenzing Group signs deal to finance solar panel plant

The Lenzing Group, a provider in wood-based fibres, has announced that it has signed onto an electricity supply contract with green power producer Enery and Energie Steiermark which will see it finance the development of a solar panel plant. With construction set to commence this autumn in Austria’s Deutschlandsberg region, the plant will supply...

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Lenzing revenues increase by 34.4 percent, EBITDA doubles

Revenue at Lenzing AG grew by 34.4 percent to 2.19 billion euros in 2021. The company said, in addition to the predominantly positive market environment, the focus on specialty fibers such as Tencel, Lenzing Ecovero and Veocel branded fibers also had a positive impact on revenue growth. The company’s EBITDA almost doubled compared to the...

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Osman debuts Tencel Luxe at London Fashion Week

Osman Yousefzada’s starting point for his spring/summer 2022 collection was asking himself, “what happened to last season’s clothes” as he moves towards creating clothes with a purpose beyond satisfying commercial demand. The result was what the designer calls a “journey into biodegradable clothing” and a capsule collection of 15 looks made from...

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Lenzing posts Q1 revenue growth of 4.9 percent

Revenue at Lenzing Group rose by 4.9 percent to 489.3 million euros in the first quarter of 2021 due to increase in demand from China and the resulting higher viscose prices. The company said, focus on wood-based specialty fibers such as Tencel and Lenzing Ecovero branded fibers had a positive impact on revenue development. EBITDA for the...

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Lenzing raises full year outlook

Despite the continuing high degree of volatility in the textile sector due to the Covid-19 pandemic, the managing board of the Lenzing Group has raised its guidance for the 2021 financial year. The company expects the operating result to be at least at the level of the pre-crisis year 2019. The company said in a release that The Lenzing Group...

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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...

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Lenzing presents new blockchain technology in Hong Kong

The Lenzing Group has made a huge leap forward in introducing blockchain technology, allowing for a new level of transparency and traceability in the textile industry. After joining the platform of the technology company TextileGenesis(TM) earlier this year, the world market leader in specialty fibers made from the renewable raw material wood...