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Lenzing expects FY21 EBITDA to reach 360 million euros

By Prachi Singh

28 Jul 2021

Business

Image: Seth Laubinger for Lenzing Fibers Inc.

The Lenzing Group has announced that the company recorded a significantly improved development of its operating result in the first half of 2021. The preliminary EBITDA more than doubled year-on-year to 217.8 million euros compared to 95.6 million euros in the first half of 2020.

The company said in a statement that the currently positive environment is still characterized by a high level of uncertainty regarding the Covid-19 pandemic. Despite the continued limited visibility, the managing board of the Lenzing Group has raised the outlook for the 2021 financial year.

Due to the very positive development of the first half of the year, the company expects the EBITDA in 2021 to reach at least a level of 360 million euros.

The results of the Lenzing Group for the first half of 2021 will be published on August 4, 2021.