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Lenzing Earnings Jump 20% in 2015

Thanks to higher fiber selling prices, a growing share of specialty fibers in its product mix and positive exchange rate effects, The Lenzing Group saw revenue rise 6 percent to 1.98 billion euro ($2.22 billion) in 2015.

Earnings before interest, tax, depreciation and amortization (EBITDA) jumped 20.7% to 290.1 million euro ($324.7 million), up from 240.3 million euro ($269 million) the prior year.

“We made substantial progress in 2015 and delivered the promised improvements to our business operations,” Lenzing AG CEO Stefan Doboczky said. “We strategically realigned the company, improved the earnings and cost structure and enhanced our financial strength. We also expect a considerable rise in earnings once again in 2016 provided that the underlying business framework does not significantly change.”

Read more at Sourcing Journal.