Fibres group Lenzing has reported revenues of €658.4 million for the first quarter of 2024, an increase of 5.7% year on year.

It said it had achieved a higher volume of sales of its cellulosic fibres, but that an expected recovery in relevant markets had not materialised, that fibre prices remained at a low level. Partially compensating for this, it said the cost of raw materials and energy had come down, but were still higher than in 2019.

Chief executive, Stephan Sielaff, said Lenzing was “not awaiting a tailwind from the market”, but he said improved business performance and good demand for its specialty fibres meant the business was “heading in the right direction”.

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