AUSTRIA: Falling prices weigh on Lenzing FY forecast
Cellulosic fibre producer The Lenzing Group has reaffirmed its full-year guidance but says it expects to come in at the lower end of expectations because of a continuing decline in average fibre prices.
The Austrian company, which makes the Tencel and Modal brands, said consolidated sales fell 1.5% in the first nine months of the year to EUR1.57bn.
However, while fibre shipment volumes rose by 12% year-on-year, average selling prices declined by about 11%.
Profit for the period dropped 28.8% to EUR155.1m, down from EUR217.9m in a year earlier.
"In spite of the difficult market conditions, we were able to achieve record sales of 590,000 tons of fibres in the first three quarters of 2012 against the backdrop of the full utilisation of our production capacities," said CEO Peter Untersperger.
The company expects consolidated sales in a range of EUR2.1bn to EUR2.15bn, with EBITDA (earnings before interest, tax, depreciation and amortisation) of EUR350-400m.
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....
The third edition examines, in depth, the strategies of the world's leading technical textiles companies, and analyses the major changes to the industry brought about by the ongoing financial crisis o...
This report provides a round-up of recent corporate developments in the global technical textiles sector, including acquisitions, business news, financial results, investments and market forecasts....
Kermel is a leading producer of meta-aramid fibres for use in the manufacture of totally non-flammable and thermo-stable products. The company produces Kermel fibre and Kermel Tech fibres which form t...
- Garment manufacturers eye Myanmar outsourcing
- PSF 2014: Shifting focus from cost to consumer
- PSF 2014: No one size fits all in apparel sourcing
- Tesco takes second stab at US market with F&F
- Tesco FY results: What the analysts say
- Adidas China supplier in discussions over strike
- Bangladesh PM asks clothing buyers to pay more
- Jones CEO to depart as Sycamore splits business
- Workers strike at Adidas supplier shoe factory
- Bangladesh clothing exports to Japan to hit $1bn
- Ethiopia – the emerging textile and clothing industry
- Antimicrobial fibres, fabrics and apparel: innovative weapons against infection
- Trade and trade policy: clothing imports, consumer expenditure and trends in five emerging markets: Brazil, Colombia, India, Kazakhstan and Peru, 4th quarter 2013
- Jeans in Italy
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects