Home / Knowledge / News / Textiles / New strategy makes Lenzing's Q1 EBITDA rise 55%
New strategy makes Lenzing's Q1 EBITDA rise 55%
12
May '16
CFO Thomas Obendrauf, CEO Stefan Doboczky, CCO Robert van de Kerkhof
CFO Thomas Obendrauf, CEO Stefan Doboczky, CCO Robert van de Kerkhof
Austrian cellulose fibres major, Lenzing reported a rise of 54.7 per cent in earnings before interest, tax, depreciation and amortisation (EBITDA) to €92.2 million in first quarter of 2016, ended March 31, as compared to €59.6 million in the corresponding period last year.

The substantial increase in earnings has been attributed to the company's new business strategy – Score Ten, which aims to strengthen core business areas of the company, expand its specialty fibres business and focus on other key aspects. A new organisational structure was also introduced to ensure optimal implementation of the strategy.

Commenting on the earnings, Stefan Doboczky, CEO of Lenzing said, “The new Group strategy Score Ten with its clear focus on profitable growth is taking hold. We are implementing the strategy very disciplined, which is having a noticeable effect on earnings already.”

“Initial progress has also been made in managing our trading working capital. Assuming that the overall business environment remains unchanged, I continue to expect a substantial improvement in earnings for the entire financial year 2016,” he added.

Earnings before interest and tax (EBIT) stood at €59.5 million in the first quarter of 2016 as compared to €27 million in the corresponding quarter of 2015, a rise of 120.3 per cent.

Revenue reported for this period was €512.8 million as compared to €474.6 million previously.

Lenzing expects a strong increase in demand for its specialty fibres in 2016. (MCJ)

Fibre2Fashion News Desk - India

Must ReadView All

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Courtesy: Bombay Dyeing

Textiles | On 3rd Dec 2016

Bombay Dyeing to focus on retail; stops textile production

Bombay Dyeing, a Wadia group company, has decided to shift its focus...

Apparel/Garments | On 3rd Dec 2016

Q3FY17 net earnings slip 26.8% at denim retailer Guess

In the three months ended October 29, 2016, net earnings at denim...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search