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

Textiles | On 19th Sep 2017

Karl Mayer expands service operations in Asia

Karl Mayer, a world leader in the production of warp knitting and...

Textiles | On 19th Sep 2017

Welspun bags Made in Green label by Oeko-Tex

Welspun, a leading home textiles manufacturer, has been awarded Made...

Courtesy: SGS

Textiles | On 19th Sep 2017

SGS expands testing facilities in Naucalpan, Mexico

SGS has expanded testing facilities in Naucalpan, Mexico, creating a...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search