Lenzing’s interim results are second best in its history
15/11/2012
From January to the end of September, fibre shipment volumes rose 12% year-on-year and consolidated sales amounted to €1.57 billion – although this was a 1.5% drop on last year’s figures.
Lenzing chief executive Peter Untersperger said: “In spite of the difficult market conditions, we were able to achieve record sales of 590,000 tons of fibres in the first three quarters of 2012 against the backdrop of the full utilisation of our production capacities.”
Its two business units, textile fibres and nonwoven fibres, performed well, with the total fibre sales a new high for the company. In the third quarter, sales amounted to 199,000 tons of cellulose fibres.
However, the decrease in the spot market prices for viscose fibres in China, caused by ongoing weak demand from Europe, led to a corresponding drop in the selling prices for standard viscose fibres. “Selling prices for the specialty fibres Lenzing Modal and Tencel were also not immune to the overall market trend prevailing as of the middle of the year. Nevertheless, they continued to be sold at an attractive price premium compared to standard viscose fibres,” said the company in a statement.
The company said it is “well on track” to achieve its second-best results, for 2012 as a whole. However, due to market conditions, a decline of average fibre selling prices is expected. This means consolidated sales are expected to be between €2.1 billion and €2.15 billion.
“Long-term megatrends such as population growth, increasing per capita fibre consumption in the emerging markets and growing demand for resource-saving, environmentally compatible fibres remain intact, and are good arguments in favour of man-made cellulose fibers,” the company added.
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