Lenzing: 2010 results set a new record

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Lenzing
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Based on preliminary figures, the Lenzing Group, a world market leader in man-made cellulose fibers for the textile and nonwovens industry, achieved record results in the 2010 business year. The determinative factors for this result were the dynamic expansion of fiber production, very strong demand for Lenzing fibers and significantly higher fiber sales prices compared to the previous year. Preliminary consolidated sales increased by 45% from EUR 1.22 billion in 2009 to EUR 1.77 billion. Preliminary consolidated EBITDA rose by 76% from EUR 187.9 million to EUR 330.6 million. Preliminary consolidated income from operations (EBIT) more than doubled, increasing by 103% from EUR 114.2 million to EUR 231.9 million. Based on preliminary results, the Lenzing Group has accordingly achieved the highest growth rates in its history for all financial key performance indicators.

“In 2010, we benefitted from the expansion strategy we pursued in recent years. We could have sold even more fibers than we were able to produce. From our point of view, the 2010 business year was not a one-off event but the beginning of a long-term upward trend in the development of the manmade cellulose fiber business. The reason for this is the increasing structural shortage of cotton on the global market, which leads textile manufacturers to increasingly turn to alternatives such as Lenzing fibers”, explains Lenzing CEO Peter Untersperger, commenting on the preliminary results for 2010.
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