Lenzing: Future looks bright for FY 2021

Future looks bright for FY 2021

Source: Lenzing
Source: Lenzing

A significantly improved development of its operating result in the first half (H1) of 2021 was recorded by Lenzing AG. The preliminary EBITDA (earnings before interest, tax, depreciation and amortization) more than doubled year-on-year to € 217.8 million (H1/2020: € 95.6 million).

The currently positive environment is still characterized by a high level of uncertainty regarding the Covid-19 pandemic. Despite that, the Managing Board raises the outlook for the 2021 financial year (FY). Taking into account the above factors and due to the very positive development of H1/2021, the Lenzing AG, Lenzing/Austria, expects the EBITDA in 2021 to reach at least a level of € 360 million.

The company’s results for H1/2021 will be published on August 4, 2021.

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