Lenzing shakes up management, fibre volumes rise
Cellulosic fibre supplier The Lenzing Group continued to gradually improve its business performance in the first three quarters of 2024 despite consumers holding back on unnecessary purchases in an environment of rising prices, falling real wages in some cases, and concerns about economic growth.
While fibre sales volumes rose during the reporting period, fibre prices remained at a low level. Raw material and energy costs remained high, and logistics costs also rose significantly.
Revenue grew by 5% year-on-year to €2 billion in the first three quarters of 2024.
Lenzing CEO Rohit Aggarwal said: “We continue to ensure strict cost management and focus on strengthening our global sales. We are adapting our corporate organisation to the changed market conditions and thus strengthening the positioning of the Lenzing Group as a leading integrated fibre group.”
Since the end of 2022, the Lenzing Group has been implementing measures to reduce costs.
Lenzing also announced personnel changes on its managing board. Rohit Aggarwal assumed the CEO role as of September 1, 2024. Stephan Sielaff, the company’s previous CEO, left by mutual agreement. Walter Bickel was appointed as chief transformation officer until December 31, 2025.
Brazilian pulp producer Suzano bought a 15% interest in Lenzing AG from B&C Group. Suzano is the world’s largest pulp producer.
Moving forward, Lenzing anticipates growth for environmentally responsible fibres for the textile and clothing industry as well as for the hygiene and medical sectors.
