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Lenzing achieves record result with expansion of cellulose fibers

12
Mar '07
In the past business year 2006 the Lenzing Group achieved a new all time record result due to the dynamic expansion of its core business cellulose fibers. According to preliminary figures Lenzing Group sales increased by 16.8% to EUR 1,100.5 million (2005: EUR 942.6 mill.), exceeding the one billion euro mark for the first time. EBIT at EUR 107.1 million was 31% higher than the year before (EUR 81.8 mill.).

The result before taxes was at EUR 98.6 mill. (2005: EUR 79.3 million), an increase of 24%. Net income after minority interests was at EUR 83.9 mill. (2005: EUR 56.9 million), an increase of 48%. Due to this excellent result the management board will propose an increased dividend of EUR 10 per share (2005: EUR 8).

EBIT in this sector improved by 35% to EUR 89.6 mill., and sales by 16% to EUR 902.8 million. Above all, Business Unit Textile Fibers greatly benefited from the development of new fiber applications and the corresponding increase in market share. Moreover, extensive investments in capacity expansion were made to safeguard this success.

Good market conditions, in particular global demand for fiber specialties, enabled several price increases for both textile and nonwoven fibers. These and the cost savings realized in the production process offset the increases in energy costs by 15% as well as the higher pulp prices.

"In 2006 we further strengthened our leading global market position and moreover enhanced our leadership in the specialty fiber segment – despite considerable capacity expansion by our Asian competitors" is the comment of Thomas Fahnemann, chairman of the Lenzing management board, on the new record result of the Lenzing Group.


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