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Revenues climb 8.3% at Lenzing Group in H1
25
Aug '16
Revenue for the six months ended June 30, 2016 at Lenzing climbed 8.3 per cent from a year ago period to €1,034.8 million as a consequence of higher fibre selling prices and an attractive product mix compared to the first half of 2015. During the first half of the current year, production volumes remained largely unchanged as against the same period last year.

During the first half of 2016, consolidated earnings before interest, tax, depreciation and amortisation or EBITDA expanded by a massive 54.3 per cent year on year to €195.1 million. EBITDA margin also rose 570 bps to 18.9 per cent vis-à-vis 13.2 per cent in the prior year's first half.

In the reporting period, earnings before interest and tax (EBIT) also more than doubled to €129.7 million, while EBIT margin also nearly doubled to 12.5 per cent from 6.3 per cent in the previous year's first half.

The net profit for the first half of 2016 soared 83.9 per cent over the six months ended June 30, 2015 to €94.6 million and earnings per share, resultantly too surged 76.2 per cent to €3.49.

CEO of Lenzing AG Stefan Doboczky said, “On one hand, we benefitted from a positive market environment, while on the other hand, we continued our implementation of Score Ten, our new group strategy, in a very disciplined and intense fashion.” (AR)

Fibre2Fashion News Desk – India

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