Austrian textile firm Lenzing Group expects €360 mn EBITDA in 2021

The Lenzing Group, Austrian-based supplier of wood-based specialty fibres for the textile and nonwoven industries, recorded a significantly improved development of its operating result in the first half of 2021 and thus expects the EBITDA (earnings before interest, tax, depreciation and amortisation) in 2021 to reach at least a level of €360 million.

The preliminary EBITDA of the Lenzing Group more than doubled year-on-year to €217.8 million, compared to €95.6 million in the first half of 2020. The company raised its expectations for 2021 due to this positive development of the first half of the year, Lenzing said in a press release.

The currently positive environment is still characterised 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.

The results of the Lenzing Group for the first half of 2021 will be published on August 04, 2021.