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Lenzing Group: Outstanding second quarter 2011
24 Aug '11
4 min read
Lenzing also recorded a stable price and volume development at a high level in the Business Unit Nonwoven Fibers, whose average fiber prices in the second quarter were also above those in the first quarter of 2011.
The Segments Plastics Products and Engineering developed very positively, and achieved significantly better results than in the prior-year period.
Outlook Lenzing Group
The Lenzing Group confirms its last published outlook for the entire year 2011, in which the company anticipates consolidated sales between EUR 2.1 bill. and EUR 2.2 bill. The expected EBITDA will be in the range of EUR 470 mill. and EUR 500 mill., corresponding to the upper half of the initial outlook. A decisive underlying factor is the very good business development of the Lenzing Group in the second quarter of 2011, which exceeded expectations.
On average business development for Q3 and Q4 2011 is expected to be similar to the first quarter's performance. The additional production volumes resulting from the capacity expansion of Lenzing Nanjing (China) should have a positive effect. An ongoing high price level along with good demand is anticipated for the specialty fibers Lenzing Modal and TENCEL also in the second half-year. In contrast, the continuation of the short-term price consolidation trend for standard viscose fibers in Asia which is still taking place along with the resulting “pipeline effect” should have a dampening effect.
Even against the backdrop of a very good cotton harvest 2011/2012, the structural influencing factors underlying the “cellulose gap” – population growth, increasing prosperity and sustainability – will continue to apply fully.
The Segments Plastics Products and Engineering developed very positively, and achieved significantly better results than in the prior-year period.
Outlook Lenzing Group
The Lenzing Group confirms its last published outlook for the entire year 2011, in which the company anticipates consolidated sales between EUR 2.1 bill. and EUR 2.2 bill. The expected EBITDA will be in the range of EUR 470 mill. and EUR 500 mill., corresponding to the upper half of the initial outlook. A decisive underlying factor is the very good business development of the Lenzing Group in the second quarter of 2011, which exceeded expectations.
On average business development for Q3 and Q4 2011 is expected to be similar to the first quarter's performance. The additional production volumes resulting from the capacity expansion of Lenzing Nanjing (China) should have a positive effect. An ongoing high price level along with good demand is anticipated for the specialty fibers Lenzing Modal and TENCEL also in the second half-year. In contrast, the continuation of the short-term price consolidation trend for standard viscose fibers in Asia which is still taking place along with the resulting “pipeline effect” should have a dampening effect.
Even against the backdrop of a very good cotton harvest 2011/2012, the structural influencing factors underlying the “cellulose gap” – population growth, increasing prosperity and sustainability – will continue to apply fully.
The Lenzing Group
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