Successful quarter for Lenzing despite “sharply rising costs”
Fibre manufacturing group Lenzing has reported revenues of €615 million for the first quarter of 2022, an increase of 25% compared to the same period last year.
Lenzing said this growth had primarily come from “continued high demand for wood-based biodegradable specialty fibres”, but added that higher fibre prices in “an environment of sharply rising costs” had also contributed.
Chief executive, Stephan Sielaff, said the start of production at the world’s largest lyocell plant in Thailand, and the implementation of a new pulp project in Brazil were other major achievements for Lenzing in the course of the three-month period.
During the first quarter, Lenzing was also pleased to receive an award from the Austrian Society for Environment and Technology (ÖGUT). The fibre producer won in the ‘World Without Waste’ category at the organisation’s 2022 Environmental Awards.
Lenzing described the award as recognition of its contribution towards “transforming the textile industry into a model of the circular economy”.
