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Lenzing raises its earnings outlook for 2021

April 22/2021

MOSCOW (MRC) -- Fiber producer Lenzing got off to a better-than-expected start to the financial year 2021, with preliminary EBITDA (earnings before interest, tax, depreciation and amortization) rising by 36.8% year-on-year to EUR 94.5 mn in the first quarter of 2021, according to MarketScreener.

Despite the continuing high degree of volatility in the textile sector due to the COVID-19 pandemic, the Managing Board of the Lenzing Group raises its guidance for the 2021 financial year:

The Lenzing Group expects the operating result to be at least at the level of the pre-crisis year 2019.

The results of the Lenzing Group for the 1st quarter of the current financial year will be published on Wednesday, May 05, 2021.

As MRC reported earlier, Lenzing has taken over management control of Hygiene Austria LP GmbH on March 03, 2021. Stephan Sielaff, Chief Technology Officer at Lenzing, has been appointed to serve as an additional managing director at Hygiene Austria.

We remind that  Russia's output of chemical products rose in February 2021 by 5.3% year on year. Thus, production of basic chemicals increased year on year by 7.5% in the first two months of 2021. February production of polymers in primary form was 861,000 tonnes versus 196,000 tonnes in January. Overall output of polymers in primary form totalled 1,770,000 tonnes over the stated period, up by 8.4%  year on year.
Author:Margaret Volkova
Tags:PP, propylene, ethylene, fibers/filaments, petrochemistry, clothes and accessories, personal hygiene products, Austria, Russia.
Category:General News
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