Austria's Lenzing 2011 net profit up 62.6%, sales up 21.2%

22 March 2012 07:47  [Source: ICIS news]

SINGAPORE (ICIS)--Austria’s Lenzing net profit for the full year 2011 rose by 62.6% year on year to €258.7m ($340.4m), despite a significant weakening of the global fibre market in the second half of the year, the company said on Thursday.

Consolidated sales in 2011 rose by 21.2% to €2.14bn compared to the same period a year earlier, primarily driven by higher average selling prices in its core fibre business and higher fibre shipment volumes, the Austrian cellulosic fibres, plastics and engineering group said in a statement.

The company’s earnings before interest, tax, depreciation and amortization (EBITDA) for 2011 grew by 45.3% year on year to €480.3m, it added.

According to the Lenzing’s preliminary estimates, global fibre production rose by 4.1% to 79.1m tonnes in 2011.

The company’s plastics products segment showed an EBITDA margin of 9.5%, while its engineering segment achieved an EBITDA margin of 8.4%, it said.

In 2012 the company expects sales to rise to a level between €2.2bn-2.3bn, while EBITDA to be in the range of €400m-480m, depending on the development of fibre and raw material prices, as well as the overall global economic environment, it added.

($1 = €0.76)

By: Samuel Wong

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