Lenzing: Better outlook for current financial...
Lenzing

Better outlook for current financial year

Lenzing

The producer of cellulosic fibers, Lenzing AG, Lenzing/Austria, got off to a better-than-expected start to the financial year 2021, with preliminary EBITDA (earnings before interest, tax, depreciation and amortization) rising by 36.8% year-on-year to €94.5 million in the 1st quarter (Q1) of 2021. Despite the continuing high degree of volatility in the textile sector due to the Covid-19 pandemic, the Managing Board of the Lenzing raises 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.

Lenzing also presented its Sustainability Report 2020 on April 22, 2021, World Earth Day. The non-financial report illustrates how the company is responding to the global challenges of our time. The overriding target is to be climate-neutral by 2050.

The implementation of the 2 key projects in Brazil and Thailand represents an important milestone on this journey. Thanks to its very good infrastructure, the production plant in Thailand conceived as a CO₂-neutral site can be supplied with sustainable biogenic energy. The plant in Brazil will feed more than 50% of the electricity generated into the public grid as renewable energy and feature a positive net CO₂ balance.

 

Your Newsletter for the Textile Industry

From the industry for the industry – sign up for your free newsletter now

 
stats