Sales rose sharply by more than a quarter (27.5 percent) to EUR 1.03 billion. The bottom line was that Lenzing made a profit of EUR 96.1 million after a loss of EUR 14.4 million in the first half of 2020. The operating result before depreciation (EBITDA) rose to EUR 217.8 million compared to the previous year more than doubled, the company announced on Wednesday. The fiber group is optimistic for the rest of the year and expects EBITDA “at least at a level of EUR 360 million” for 2021. The result would be better than in the pre-crisis year 2019. At that time it was 326.9 million euros.
The fiber group, which employs over 7,000 people, is currently working on two mega-projects in Brazil and Thailand. The start of production at the lyocell plant in Thailand is planned for the fourth quarter of 2021. Lenzing is also investing more than EUR 200 million in its production sites in Purwakarta (Indonesia) and Nanjing (China).
The board of directors will explain the figures in a virtual press conference in the morning.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
