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Lenzing Sees Record-High Profits in First Half

Thanks to the right product mix, the right capacity utilization and higher selling prices, The Lenzing Group pulled profits higher than it’s ever had.

For the first half of the year, revenue jumped 11 percent to 1.15 billion euro ($1.36 billion), earnings before interest, tax, depreciation and amortization (EBTIDA) were up 38.8% to 270.7 million euro ($320 million), and profits soared 58.9% over the prior year period to 150.3 million euro ($177.68).

“The first half-year developed very well for the Lenzing Group, and we are pleased with the best half-year period in the company’s history. We will continue our disciplined implementation of the sCore TEN strategy,” Lenzing Group CEO Stefan Doboczky said.

Read more at Sourcing Journal.