Lenzing: Significant improvement in sales and...

Significant improvement in sales and solid results in H1/2022

(Source: Lenzing)
(Source: Lenzing)

The Lenzing Group increased sales by 25.2% to €1.29 billion in the first half (H1) of 2022, primarily due to higher fiber prices. The earnings trend mainly reflects the cost trend in global energy and raw material markets, which affected the whole of manufacturing industry. Energy, raw materials and logistics costs rose sharply once again in the reporting period, after cost pressure had already risen steadily throughout the 2021 financial year. As a consequence, earnings before interest, tax, depreciation and amortization (EBITDA) decreased by 13.3% year-on-year to €188.9 million (H1/2021: €217.8 million).
The strength of the specialty strategy and of brands based on innovation and sustainable activity as well as the continued focus on measures to improve structural earnings in all regions mitigated this negative effect. The EBITDA margin reduced from 21.1 to 14.6% in H1/2022.
In March 2022, the new, state-of-the-art lyocell plant in Thailand was opened. The production plant, which is the largest of its kind with a nominal capacity of 100,000 tons/year, was commissioned as planned after 2.5 years of construction, and despite the challenges deriving from the pandemic. The successful implementation of the project will enable Lenzing AG, Lenzing/Austria, to better meet growing customer demand for lyocell fibers, thereby making the global textile and nonwovens industries more sustainable.

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