Austrian Lenzing Group said it 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 (compared to €95.6m in the first half of 2020). The currently positive environment is still characterized by a high level of uncertainty regarding the Covid-19 pandemic, the company said. Despite the continued limited uncertainty but due to the very positive development of the first half of the year, the group’s managing board has raised the outlook for the 2021 financial year, expecting the EBITDA in 2021 to reach at least a level of €360 million. The results for the first half of 2021 will be published on Aug. 04.
Related articles
-
News briefsLenzing cuts 500 jobs
Lenzing plans to reduce global personnel costs by up to €30 million, or the equivalent of around 500 full-time jobs, by not filling positions that fall vacant due to retirements and natural attrition, as well as by job cuts. The move is part of a larger plan to achieve €100 ...
-
ArticleMips with good start into 2024 on the back of bike market recovery
For the first time, the slump in the bicycle market was no longer the main reason for the decline in sales in Mips’ Q1 2024 earnings report, as was previously the case. Not the subcategory “Bicycle,” but the subcategory “Snow” was the main driver of the 6 percent decline in ...
-
News briefsPolygiene’s recovery appears underway
Polygiene, which forecasted a recovery in business conditions in mid-February, reported a 25 percent rise in Q1 sales to 35.1 million Swedish kronor (€3.02m) for the period ended March 31. Ebitda improved to SEK 4.8 million from negative SEK 1.4 million. The group generates an estimated 30 percent of its ...