LEADING world supplier of cellulose fibre Lenzing reported first quarter sales up by 8.1 per cent year on year, to EUR 512.8m. This boosted almost three-fold the profit for the period, to EUR 44.1m. EBITDA also improved considerably, by 54.7 per cent to EUR 92.2m, boosting the margin to 18 per cent against 12.6 per cent a year earlier. CEO Stefan Doboczky commented: “We are proud that we have got off to a very good start in the year 2016. The new Group strategy sCore TEN with its clear focus on profitable growth is taking hold. We are implementing the strategy very disciplined, which is having a noticeable effect on earnings already. Initial progress has also been made in managing our trading working capital. Assuming that the overall business environment remains unchanged, I continue to expect a substantial improvement in earnings for the entire financial year 2016.” Click here for more details on the period’s results.
The excellent start to 2016 underlines also the steadily growing importance to the company of speciality premium fibres.