AUSTRIA: Difficult market impacts Lenzing FY profit
- FY net profit down 28% to EUR191.9m (US$246.9m)
- Sales down 2.3% to EUR2.09bn
- Good performance from Tencel fibre
Fibre business Lenzing Group saw reductions in full-year net profit and sales in a “difficult” market environment, despite a good performance from its Tencel speciality fibre.
“We performed quite well in 2012 despite a very difficult market environment,” said company CEO Peter Untersperger.
“Naturally, our operating margins were below those in the boom year 2011, but still at a good level.
“We fully utilised our new production capacities, and were sold out throughout the entire year.
“This success proves the long-term correctness of our growth strategy in our core business of manufacturing man-made cellulose fibres.”
Lenzing Group is putting the focus on blends of its Tencel fibre with cotton in a new marketing initiative for manufacturers and retailers....
Cellulosic fibre producer Lenzing Group has cut its full-year sales guidance, after reporting a 34.7% drop in first-half profit....
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