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.”
This report provides a round-up of recent corporate developments in the global technical textile sector, including acquisitions, divestments and mergers, business news, financial results, investments ...
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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