Challenging year so far for Lenzing
07/11/2018
The group’s revenue for this period was just over €1.6 billion, down 5.2% year on year. Despite this, Lenzing claimed it had seen “solid business development” in the first three quarters of the year.
Its earnings before tax also declined, falling 26.8% compared to last year to €290.6 million. The company said this was due to higher prices for key raw materials and the increased cost of energy and dissolving wood pulp.
Stefan Doboczky, Lenzing’ chief executive, said: “The Lenzing Group is currently operating in a challenging environment. Against this background, we are satisfied with the solid business development. While many viscose producers are faced with a very tense profit situation, we are well positioned due to our specialty strategy and still expect a satisfactory full year.”
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