A textile fruit net, the packaging for a special edition whiskey, towels and fibers for fashion – all of this is based on fibers and yarns from Linz Textil. The listed company based in Linz was able to increase its sales by ten percent in the previous year due to the good demand, the operating result before interest and taxes (EBIT) also increased by a tenth to 3.3 million euros.
Because the company is reducing its investments somewhat, the excess liquidity will be distributed as a special dividend. In addition to the basic dividend of four euros, 24 euros will be distributed. The main shareholder is the family of the former CEO Dionys Lehner through several companies, the Oberbank holds six percent.
The company, which has been listed on the stock exchange since 1872, is traditionally well equipped with equity. The share at 84 percent of the balance sheet total.
The year 2021 was challenging, the year 2022 started at full capacity, said CEO Friedrich Schopf. The extremely high electricity prices are particularly difficult to cope with at the Landeck site. Because fine and therefore lightweight yarns are spun there, the energy costs would have a major impact there. “In the first three months we paid more for electricity than we did all year before,” said Schopf. Therefore, a capacity reduction is being considered, which in the worst case could also cost ten of the 83 jobs. A decision will be made at the Supervisory Board meeting in May.
Source: Nachrichten
