Lenzing: Reports earnings for the first half-year

03 August 2022, Mumbai:

Lenzing reports significant revenue growth and solid earnings for the first half-year.

The Lenzing Group’s revenue grew by 25.2 percent year-on-year to reach EUR 1.29 bn in the first half of 2022, primarily due to higher fiber prices. The earnings trend mainly reflects the cost trend in global energy and raw material markets, which affected the whole manufacturing industry.

Energy, raw materials and logistics costs rose sharply once again in the reporting period after cost pressure had already risen steadily throughout the 2021 financial year.

As a consequence, earnings before interest, tax, depreciation, and amortization (EBITDA) decreased by 13.3 percent year-on-year to EUR 188.9 mn.

ALSO READ  Lenzing x Red Points: Fight counterfeits & protect

RELATED NEWS .  Lenzing: Expands carbon-neutral fiber portfolio for Workwear

Revenue up by more than 25 percent, earnings impacted by a sharp rise in energy, raw material, and logistics costs

·       Key projects in Thailand and Brazil successfully commissioned

·       Further development of the corporate strategy with a focus on profitable growth and accelerated transformation to a circular economy model

·       Lenzing continues to advance purposefully toward Group-wide climate neutrality

·       Earnings guidance for 2022 confirmed: EBITDA expected significantly above the 2021 level.

Join our community on Linkedin