Record Q3 results at Lenzing
18/11/2010
Austria-based cellulose fibres specialist Lenzing has posted record results for the third quarter.
Earnings before interest and tax (EBIT) for the period reached EUR60.8 million, up from EUR37.3 million during the same period in 2009. EBIT reached a record-nine month high of €168.8 million, tripling the €54.3 million achieved in 2009.
Sales for the first nine months of the year rose 45.2% from EUR885 million to EUR1.3 million. EBIT reached a new nine-month record high of EUR168.8 million and more than tripled 2009 EBIT (EUR54.3 million).
Peter Untersperger, chairman of the Lenzing management board, said: "We are facing a growing and sustainable excess in demand in all important fibre markets.
"The calamitous weather situation in Pakistan and India has led to rethinking. Cotton will in the future be viewed with ever-increasing doubt concerning the crop's pricing and availability. Market analysts, therefore, expect a structural change of the global fibre market which should strongly benefit cellulose manmade fibres such as viscose, modal and Tencel in the medium and long term."Share this story:
