Lenzing: Good start into 2021
Lenzing

Good start into 2021

(Source: Lenzing)
(Source: Lenzing)

The producer of cellulosic fibers, Lenzing AG, Lenzing/Austria, had a positive sales and earnings development in the 1st quarter of 2021 (Q1/2021). Total sales rose by 4.9% to €489 million in this period mainly due to increased demand from China and the resulting higher viscose prices. However, the focus on specialty fibers such as the fibers of the Tencel and Lenzing Ecovero branded fibers had a positive impact on sales development. The share of specialty fibers in fiber sales was 72.6%. The negative impact of more unfavorable currency effects was consequently more than offset. EBITA (earnings before interest, tax, depreciation and amortization) increased by 36.8% to €94.5 million compared to Q1/2020. The EBITDA margin increased from 14.8% to 19.3%.

In 2024, more than 75% of fiber sales are to be generated from the business with wood-based specialty fibers such as lyocell and modal fibers. The focus of this strategic target is the construction of the new state-of-the-art lyocell plant in Thailand.

Lenzing transferred all shares in Hygiene Austria LP GmbH, Lenzing, to Palmers AG, Vienna/Austria, in April 2021 in order to ensure a continuation in conformity with the articles of incorporation. The investment was fully written off in Q1/2021.

 

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