The Lenzing Group’s revenue rose by 32.9 percent to 1.59 billion euros in the first nine months of 2021. This increase, the company said, is attributable to a higher sales volume as well as higher viscose prices, which stood at more than RMB 15,000 in May due to higher demand for fibers, especially in Asia.
The company added that the focus on wood-based specialty fibers such as the Tencel, Lenzing Ecovero and Veocel branded fibers also had a positive impact on the revenue trend; the share of specialty fibers in fiber revenue amounted to 72.4 percent in the reporting period. This more than offset the negative impact of less favorable currency effects.
“Lenzing has enjoyed a strong business performance to date in 2021. Demand for our wood-based, biodegradable specialty fibers under the Tencel, Lenzing Ecovero and Veocel brands is growing very well”, notes Thomas Obendrauf, Chief Financial Officer of the Lenzing Group.
The company’s EBITDA more than doubled to 297.6 million euros in the first nine months compared to 138.5 million euros in the first nine months of 2020. The EBITDA margin rose from 11.6 percent to 18.7 percent. Net profit for the period amounted to 113.4 million euros compared to a net loss of 23.3 million euros in the first nine months of 2020 and earnings per share to 3.77 euros compared to minus 0.1 in the first three months of 2020.
Given the positive performance during the first nine months, the Lenzing Group continues to expect EBITDA to reach at least 360 million euros in 2021.