Lenzing’s savings paying off with doubling of profit for first quarter
22/05/2015
Revenues rose 5% to €474.6 million. Profit more than doubled to €16.6 million, climbing by 115.3% from €7.7 million in the first quarter of 2014.
“The marketing drive for specialty fibres launched in 2014, especially for TENCEL, has paid off,” said Lenzing’s CEO Peter Untersperger.
“We successfully implemented initial price increases and significantly increased the share of specialty fibres in the product mix. Moreover, we laid the groundwork for generating further earnings improvements against the backdrop of an ongoing difficult market environment thanks to comprehensive structural and cost optimisation measures.”
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