The Management Board of Lenzing has decided to focus in the coming years on expanding its lyocell production capacities in Asia, where Lenzing’s greenfield project in Thailand is progressing well.
Consequently, engineering costs related to the mothballed U.S. lyocell fiber expansion will be fully written off. In addition, viscose prices continued to decline throughout the year, currently trading at historically unprecedented low levels. This unfavorable price development affected the group’s business performance.
Based on the above, the Lenzing Group’s preliminary, unaudited results for 2019 lead to a full-year revenue of 2.11 billion euro (2018: 2.18 billion euro), an EBITDA of 327 million euro (2018: 382 million euro) and net profits of 114 million euro (2018: 148 million euro).
