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The fiber manufacturer Lenzing is suffering from price pressure, which is also reflected in the 3rd quarter figures. But what we expected. Lenzing is presented but still better than expected (see target / actual). As a result, the action also reacted positively to the result.
In Lenzing, the gap is narrowing: important raw materials are expensive, but the selling price of standard viscose is low. In addition, some currency conversions were unfavorable. In total, this led to lower sales and profits in the first three quarters of the current fiscal year. In total, revenue fell 5.2% year-on-year to 1.64 billion euros and earnings (net income) 39% to 133.8 million euros. – Lenzing speaks of a "solid business development". The concentration of the company's strategy on the production of special fibers has had a positive effect. CEO Stefan Doboczky also expects "a satisfactory year" from the specialty strategy. However, the result will be lower than in the previous two years, as we know today. Investments rose 35.5% to 174.1 million euros. This is mainly due to Heiligenkreuz's capacity expansions, the expansion of the existing pulp mill in Lenzing and previous investments in the US plant in Mobile, Alabama.
More information about Lenzing here.
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