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Consolidate revenue up 7.4% in Q1-3 at Lenzing
13
Nov '15
Lenzing Group, an Austria based global manufacturer of man-made cellulose fibres for the textile and nonwoven industry, reported an increase of 7.4 per cent in its consolidate revenue in the first three quarters of the calendar year 2015 as compared to the corresponding period of 2014.

The consolidate revenue at Lenzing Group for the period between Q1-3 of 2015 stands at €1458.9 million as compared to €1357.7 million in 2014, because of improved cost structure in the company, increased fibre prices and positive exchange rate effects, according to a press statement released by the company.

Lenzing's EBITDA was recorded at €210.6 million in the first nine months of 2015, which is an increase of 31.7 per cent as compared to the corresponding period of 2014. The net profit for this period was recorded to be €84.4 million, which is an increase of 90.6 per cent as compared to the same period last year.

Commenting on the results, Stefan Doboczky, CEO of Lenzing said, “In the first three quarters of the year we came close to doubling our net profit for the period compared to the same period last year. We continue to progress well in our profit improvement measures and currently benefit from the somewhat more positive business environment.”

The company expects fourth quarter 2015 earnings to show a similar development as in the third quarter of the year. (MCJ)

Fibre2Fashion News Desk — India

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