- Prachi Singh |
Revenue at Lenzing Group rose by 4.9 percent to 489.3 million euros in the first quarter of 2021 due to increase in demand from China and the resulting higher viscose prices. The company said, focus on wood-based specialty fibers such as Tencel and Lenzing Ecovero branded fibers had a positive impact on revenue development.
EBITDA for the quarter increased by 36.8 percent to 94.5 million euros and the EBITDA margin rose from 14.8 percent to 19.3 percent. Net profit for the period amounted to 29.9 million euros and earnings per share to 1.06 euros.
“Lenzing benefited from the growing optimism in the textile value chain and the strong recovery of the fiber markets in the first quarter of 2021. 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,” said Stefan Doboczky, CEO of the Lenzing Group.
Lenzing expects a continued increase in demand for sustainably produced fibers for the textile and apparel industry as well as for the hygiene and medical industry. The Lenzing Group expects the operating result in 2021 to reach at least the level of the pre-crisis year 2019.