Lenzing secures record year but prepares for challenging period
16/03/2018
The company’s revenue for last year was €2.26 billion, an increase of 5.9% compared to 2016. Its pre-tax earnings increased 17.3% year on year to €502.5 million.
Reacting to the results, Lenzing chief executive, Stefan Doboczky, said: “The Lenzing Group looks back at a very successful year 2017. We continued to implement our corporate strategy sCore TEN with great discipline and focus on our investment projects and successfully captured value in a positive market environment.”
He highlighted the opening of an application innovation centre in Hong Kong and the creation of a new sales and marketing office in Turkey as examples of Lenzing’s “commitment to innovation and customer centricity”.
Mr Doboczky repeated that Lenzing expects “more headwinds” in the coming quarters. Among the reasons the company has given for this prediction are “growing protectionist tendencies in the political arena”, which are leading to market uncertainty.
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