Lenzing revenues suggest market recovery, it says
03/05/2023
Revenues reached approximately $688 million (€623.1 million) for the three-month period. The producer said this growth was due to higher pulp revenues, as fibre revenues were down.
Demand for Lenzing’s pulp products was better than expected, it added, with raw material and energy costs also offering a glimmer of hope, despite having remained “at an elevated albeit decreasing level” since last year.
“After the crisis year of 2022, the negative after-effects were still clearly evident in the first quarter of 2023,” group chief executive, Stephan Sielaff, commented.
Mr Sielaff went on to describe the company as “well-prepared for an upturn in demand”, due to efforts to cut costs and increase liquidity, as well as progress made on sustainable production projects in China and Indonesia.
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