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

'Sportswear is much more mainstream than earlier'

Fashion | On 20th Jul 2018

'Sportswear is much more mainstream than earlier'

The business of sportswear has evolved at a fast pace over the years. ...

Courtesy: YKK

Textiles | On 20th Jul 2018

Japanese firm YKK explores opening office in Uzbekistan

Japanese company YKK recently discussed with the Uztuqimachiliksanoat ...

HFPA alerts member firms on latest US tariff announcement

Textiles | On 20th Jul 2018

HFPA alerts member firms on latest US tariff announcement

The US Home Fashion Products Association (HFPA) has alerted its...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search