9M EBITDA soars 52.2% at Lenzing Group
November 21, 2016 - Austria
For the first nine months ended September 30, 2016, consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) soared 52.2 per cent year on year to €320.6 million at Austrian specialty fibre producer Lenzing Group. This corresponds to an EBITDA margin of 20.3 per cent, up from 14.4 per cent over the same period last year.
Consolidated revenue in the first nine months of 2016, grew 8.2 per cent year over year to €1,578.4 million, primarily driven by higher selling prices of all three fibres in its portfolio, Viscose
, Modal and Tencel and also a more attractive product mix.
Earnings before interest and tax (EBIT) almost doubled to €221.7 million in the period under reveiw, while EBIT margin surged to 14 per cent from 7.7 per cent in the first nine months of 2015.
The net profit for the reporting period at €162.1 million too was higher by 91.1 per cent than in the first three quarters of 2015, as a result of which earnings per share drove up 84.6 per cent to €5.98. (AR)