Home / Knowledge / News / Textiles / Lenzing FY17 first half revenue climbs 11%
Lenzing FY17 first half revenue climbs 11%
24
Aug '17
Courtesy: Lenzing
Courtesy: Lenzing
For the first half of the financial year 2017, Lenzing Group headquartered in Austria, has recorded 11 per cent rise in the revenue with a total of €1,149.1 million. The company's consolidated EBITDA was up 38.8 per cent to €270.7 million, corresponding to an EBITDA margin of 23.6 per cent in comparison to 18.9 per cent in the prior-year period.

EBIT increased by 57.4 per cent to €204.2 million, resulting in a higher EBIT margin of 17.8 per cent (H12016:12.5 per cent). The profit for the period improved by 58.9 per cent to €150.3 million, and earnings per share climbed 59 per cent to €5.55 per share.

"The first half-year developed very well for the Lenzing Group, and we are pleased with the best half-year period in the company’s history. We will continue our disciplined implementation of the sCore TEN strategy. The expansion of new state-of-the-art production capacities for our specialty fibres is proceeding well and will support our customers in their own expansion efforts for products made of our botanic fibres. The decision to set up a subsidiary and acquire a respective land plot in Thailand is the next step in the implementation of this strategy," said Stefan Doboczky, chief executive officer of Lenzing Group.

"On the innovation side we are proud that after the introduction of Refibra branded lyocell fibres, we now launched EcoVero. This is a particularly high-performance fibre featuring a very favorable ecological footprint and sets the new benchmark for the entire industry – from fibre to garment," added Doboczky.

Furthermore, the Lenzing Group opened up new sales and marketing offices in Turkey and Korea in the first half of 2017.

The Lenzing Group aims to increase the share of specialty fibres as a percentage of revenue to 50 per cent by 2020. The demand for these cellulose fibres was very good in the first half year of 2017, with the long-term trend pointing towards further growth in viscose and, above all, wood-based cellulose specialty fibres. On the supply side, the market is not expected to see the entry of any notable new production capacity in 2017. Under the assumption of unchanged conditions in the fibre market and stable exchange rates, Lenzing expects a considerable improvement in results in the fiscal year 2017 compared to 2016. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Mikes Photos from Pexels

Apparel/Garments | On 17th Oct 2018

Bangladesh garment exports swell 14.66% in Q1 FY19

Readymade garment exports from Bangladesh increased by 14.66 per cent ...

Courtesy: WTO

Textiles | On 17th Oct 2018

WTO rejects Panama claim for $210-mn sanctions on Columbia

A World Trade Organisation (WTO) panel recently rejected Panama’s...

India ranks 147th in Oxfam world inequality index

Textiles | On 17th Oct 2018

India ranks 147th in Oxfam world inequality index

India has been ranked 147th among 157 countries in a new worldwide...

Interviews View All

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search