Lenzing news and archive

Rohit Aggarwal named new member of board for Lenzing Group and designated CEO

Lenzing - The Supervisory Board of Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, has appointed Rohit Aggarwal as a new member of the Management Board of Lenzing Group. He will assume responsibility for the fiber division during the third quarter. After the departure of Stephan...

Fashion

Diane von Furstenberg and Lenzing join forces to bring more sustainable fashion to the fore

Austrian fibre producer Lenzing has announced a global collaboration with luxury fashion brand Diane von Furstenberg (DVF). The brand will use Lenzing fibres from sustainably managed wood sources such as Tencel and Lenzing Ecovero for its flagship collection, bringing them into mainstream fashion. “We are delighted to collaborate with DVF to...

Business

Suzano acquires 15 percent stake in Lenzing for 230 million euros

Suzano has announced that the company will acquire a 15 percent stake in Lenzing from B&C Group and the two shareholders will form a long-term syndicate which will hold the majority 52.25 percent stake in the company. After the closing of the transaction, B&C will hold a 37.25 percent stake in Lenzing and keep the role as controlling member of...

Business

Lenzing receives Vienna Stock Exchange VÖNIX Sustainability Award

The Lenzing Group received the Austrian sustainability award for top listed companies, the Vienna Stock Exchange VÖNIX Sustainability Award, taking the first place in the 'Industrials' category. The award honours those companies that stand out on the capital market with their outstanding sustainability performance. According to the VBV (Austrian...

Business

Lenzing's Q1 revenues improve by 5.7 percent

The Lenzing Group’s revenue rose by 5.7 percent to 658.4 million euros in the first quarter of 2024 driven by higher fibre sales volumes. The company said in a release that EBITDA for the quarter more than doubled to 71.4 million euros, while EBIT was slightly positive at 1.5 million euros compared with minus 41.4 million euros in the first...

People

Lenzing appoints Walter Bickel as chief transformation officer

Lenzing has appointed Dr. Walter Bickel as a member of the managing board and chief transformation officer with effect from April 15, 2024 until December 31, 2025. The company said in a statement that Bickel will be responsible for the further development and implementation of the performance program. Lenzing’s performance program initiated in...

Business

Lenzing loss widens to 20.02 euros per share

Subdued demand and the continued rise in raw material and energy costs negatively impacted Lenzing Group’s earnings in the 2023 financial year. While the company’s revenue remained comparatively stable at 2.52 billion euros, earnings after tax were negative 593 million euros and earnings per share were negative 20.02 euros. The company said in a...

Business

Lenzing warns of write-downs of up to 480 million euros in financial year 2023

The Austrian fibre manufacturer Lenzing AG will have to make write-downs in the three-digit million euro range for the 2023 financial year. On Tuesday evening, the company announced that the "annual evaluation of the valuation of assets" had revealed a need for impairment, necessitating special write-downs of up to 480 million euros. The reasons...

BusinessFeatured

Lenzing loss widens, revenues drop by 5.3 percent

Lenzing revenue in the first three quarters of 2023 decreased by 5.3 percent to 1.87 billion euros, EBITDA decreased by 16.7 percent to 219.1 million euros, net result amounted to minus 96.7 million euros and earnings per share amounted to minus 4.90 euros. The company said in a release that the reduction was primarily due to lower fibre...

Business

Lenzing swings to H1 loss, but upbeat on signs of recovery

Austrian fibre production company Lenzing swung to a loss in the first half of the year but was upbeat as it saw signs of improvement throughout the period. The maker of Tencel lyocell fibers reported a net loss of 65.8 million euros compared to a net profit of 72.3 million euros a year earlier, while its EBITDA narrowed to 136.5 million euros...

Business

Lenzing announces strategic partnership with Karl Mayer Group

Lenzing Group, a leading global producer of wood-based speciality fibres, is teaming up with Karl Mayer Group, who manufacture textile machinery to facilitate the adoption of more botanic, biodegradable and fossil-fuel-free materials during textile production in both warp knitting and flat knitting machines. In a statement, Lenzing said that the...

Business

Lenzing revenues up in Q1, foresees signs of recovery

Revenues at Lenzing increased by 1.3 percent in the first quarter compared to the prior-year quarter to 623.1 million euros. The company said in a statement that the growth was primarily due to higher pulp revenues, while fibre revenues were down. As a consequence, EBITDA decreased by 66.2 percent to 29.7 million euros in the first quarter of...