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Lenzing to continue its cellulose fibers expansion program
14
Mar '08
The business result of the Lenzing Group for 2007 clearly surpasses the very good result of 2006. Excellent economic conditions and the dynamic expansion of the group in fibers and plastics form the basis of yet another record result. According to preliminary figures, consolidated sales rose by 20.9% to EUR 1.26 bill.

EBITDA improved by 35.4% to EUR 229.3 mill. (2006: EUR 169.3 mill.) and EBIT rose by 50.6% to 162.3 mill. (2006: EUR 107.8 mill.). Net income improved by 33.1% to EUR 117.6 mill. (2006: EUR 88.4).

The management board will propose a dividend of EUR 14.00 per share (2006: EUR 10.00). “We made optimum use of the opportunities provided by fiber boom year 2007 and fully utilized our production capacity that we had built up in time.

At the same time we passed raw material price increases on to the market. To add, we had the strong expansion of Business Unit Plastics with four new businesses acquired in the past twelve months alone“ comments Thomas Fahnemann, chairman of the management board.

Sales by Segment Fibers – generating 80% of consolidated sales – according to preliminary segment reporting were EUR 1,069.5 mill. (2006: EUR 902.8 mill.). Segment EBIT improved to EUR 148.4 mill. (2006: EUR 89.6 mill.) and 560,000 tons (2006: 480,000 tons) of produced fibers constitute a new production record.

It was brought about mainly by the start of production at the fiber plant in Nanjing (China). “Lenzing in 2007 further enhanced its global lead in cellulose fiber production in terms of quantity as well as quality” is Thomas Fahnemann's comment on the current development.

The newly developed fiber Micro Modal AIR, a particularly fine fiber for high quality lingerie applications, is a case in point, as well as the current outstanding success of Lenzing FR fibers: this Lenzing fiber is not only very much in demand for heat resistant work wear for industry and fire fighting.

It also is the basis of a new generation of flame retardant uniforms for the US armed forces. Continuous innovation significantly broadened Lenzing's areas of application for nonwovens, particularly in technical applications, for example as reinforcement fibers replacing asbestos or glass fiber.

Lenzing's specialty fiber TENCEL, for example, is used in the separators of high performance batteries of hybrid-power cars.

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