Lenzing news and archive

Lenzing appoints Walter Bickel as chief transformation officer

Lenzing has appointed Dr. Walter Bickel as a member of the managing board and chief transformation officer with effect from April 15, 2024 until December 31, 2025. The company said in a statement that Bickel will be responsible for the further development and implementation of the performance program. Lenzing’s performance program initiated in...

Report

Lenzing loss widens to 20.02 euros per share

Subdued demand and the continued rise in raw material and energy costs negatively impacted Lenzing Group’s earnings in the 2023 financial year. While the company’s revenue remained comparatively stable at 2.52 billion euros, earnings after tax were negative 593 million euros and earnings per share were negative 20.02 euros. The company said in a...

BusinessPress Release

EMPEL® by Green Theme Technologies Delivers Unmatched Textile Performance and Sustainability for Japanese Market

Green Theme Technologies (GTT), creators of the PFAS-free and water-free EMPEL® textile finishing platform, now delivers advanced performance and a long term sustainability solution to the Japanese market. EMPEL® is an unmatched solution for textile mills looking to provide clean, high-performance finishes, and GTT actively promotes this...

Report

Lenzing warns of write-downs of up to 480 million euros in financial year 2023

The Austrian fibre manufacturer Lenzing AG will have to make write-downs in the three-digit million euro range for the 2023 financial year. On Tuesday evening, the company announced that the "annual evaluation of the valuation of assets" had revealed a need for impairment, necessitating special write-downs of up to 480 million euros. The reasons...

Management

Lenzing loss widens, revenues drop by 5.3 percent

Lenzing revenue in the first three quarters of 2023 decreased by 5.3 percent to 1.87 billion euros, EBITDA decreased by 16.7 percent to 219.1 million euros, net result amounted to minus 96.7 million euros and earnings per share amounted to minus 4.90 euros. The company said in a release that the reduction was primarily due to lower fibre...

Report

Lenzing swings to H1 loss, but upbeat on signs of recovery

Austrian fibre production company Lenzing swung to a loss in the first half of the year but was upbeat as it saw signs of improvement throughout the period. The maker of Tencel lyocell fibers reported a net loss of 65.8 million euros compared to a net profit of 72.3 million euros a year earlier, while its EBITDA narrowed to 136.5 million euros...

Business

Lenzing announces strategic partnership with Karl Mayer Group

Lenzing Group, a leading global producer of wood-based speciality fibres, is teaming up with Karl Mayer Group, who manufacture textile machinery to facilitate the adoption of more botanic, biodegradable and fossil-fuel-free materials during textile production in both warp knitting and flat knitting machines. In a statement, Lenzing said that the...

Report

Lenzing revenues up in Q1, foresees signs of recovery

Revenues at Lenzing increased by 1.3 percent in the first quarter compared to the prior-year quarter to 623.1 million euros. The company said in a statement that the growth was primarily due to higher pulp revenues, while fibre revenues were down. As a consequence, EBITDA decreased by 66.2 percent to 29.7 million euros in the first quarter of...

Business

Lenzing introduces new fibre recycling initiative

Austrian fibre manufacturer Lenzing, together with its partners Artistic Milliners from Pakistan, Canatiba from Brazil and Textil Santanderina from Spain, has started the first phase of a new Tencel fiber recycling initiative. Aiming to drive the circular economy in the global textile industry, the new initiative begins with the production of...

Report

Lenzing reports loss in fiscal year 2022

In the year under review, Lenzing revenue increased by 16.9 percent to 2.57 billion euros, primarily as a result of higher fibre prices, while EBITDA decreased by 33.3 percent to 241.9 million euros in 2022. The net result for the year was minus 37.2 million euros compared with 127.7 million euros in the 2021 financial year, while earnings per...

Report

Lenzing suspends dividend policy for FY23

Lenzing AG expects EBITDA for the 2023 financial year to be in a range of 320 million euros to 420 million euros, assuming a further market recovery in the current financial year. On this basis, the company said in a statement that the company’s managing board of Lenzing AG does not consider the execution of the existing dividend policy of at...

Fashion

Lenzing and NFW collaborate on sustainable leather alternative

Austrian fibre producer Lenzing Group has teamed up with US-based material science company Natural Fiber Welding Inc. (NFW) to offer Tencel-branded fibres as another backer option to the current all-natural fabric backing for NFW’s patented plant-based technology Mirum. The Mirum x Tencel collaboration is currently being showcased for the first...