Lenzing Group, an Austrian leader in sustainable specialty fibres, has reported 4.9 per cent revenue growth to €489.3 million in its first quarter (Q1) FY21 ended on March 1, 2021, compared to the revenue of €466.3 million in the same period previous fiscal. The group’s net profit for Q1 FY21 rose to €29.9 million (Q1 FY20: €17.7 million).
Lenzing Group, an Austrian leader in sustainable specialty fibres, has reported 4.9 per cent revenue growth to €489.3 million in its first quarter (Q1) FY21 ended on March 1, 2021, compared to the revenue of €466.3 million in the same period previous fiscal. The group's net profit for Q1 FY21 rose to €29.9 million (Q1 FY20: €17.7 million).#
“Lenzing benefited from the growing optimism in the textile value chain and the strong recovery of the fibre markets in the first quarter of 2021. Demand for our sustainably produced specialty fibres such as Tencel and Lenzing Ecovero saw a clearly positive development again,” Stefan Doboczky, CEO of the Lenzing Group, said in a press release.
Lenzing Group, an Austrian leader in sustainable specialty fibres, has reported 4.9 per cent revenue growth to €489.3 million in its first quarter (Q1) FY21 ended on March 1, 2021, compared to the revenue of €466.3 million in the same period previous fiscal. The group's net profit for Q1 FY21 rose to €29.9 million (Q1 FY20: €17.7 million).#
EBITDA (earnings before interest, tax, depreciation and amortisation) during Q1 FY21 rose to €94.5 million (€69.1 million), while CAPEX (expenditures for intangible assets and property, plant and equipment and biological assets) was €211.5 million (€138.6 million).
Lenzing Group, an Austrian leader in sustainable specialty fibres, has reported 4.9 per cent revenue growth to €489.3 million in its first quarter (Q1) FY21 ended on March 1, 2021, compared to the revenue of €466.3 million in the same period previous fiscal. The group's net profit for Q1 FY21 rose to €29.9 million (Q1 FY20: €17.7 million).#
“The growth in revenue is mainly attributable to a strong increase in demand from China and the resulting higher viscose prices. The focus on wood-based specialty fibres such as Tencel and Lenzing Ecovero branded fibres had a positive impact on revenue development; the share of specialty fibres in fibre revenue rose from 72.2 per cent to 72.6 per cent,” the group stated.
Lenzing Group, an Austrian leader in sustainable specialty fibres, has reported 4.9 per cent revenue growth to €489.3 million in its first quarter (Q1) FY21 ended on March 1, 2021, compared to the revenue of €466.3 million in the same period previous fiscal. The group's net profit for Q1 FY21 rose to €29.9 million (Q1 FY20: €17.7 million).#
“Strategically, we remain fully on track. The implementation of the pulp project in Brazil proceeds according to plan despite the challenges related to COVID-19, and the new lyocell plant in Thailand will start up as planned in the fourth quarter of 2021,” Doboczky added.
Fibre2Fashion News Desk (JL)
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