15 November 2012 07:34 [Source: ICIS news]
SINGAPORE (ICIS)--Lenzing's net profit fell by 29% year on year to €155.1m ($198.8m) in January-September this year, partly weighed by an 11% drop in average selling prices at its fibres business, the Austrian cellulosic fibres, plastics and engineering group said on Thursday.
The company’s sales slipped by 1.6% year on year to €1.57bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) was down by 22% at €281.5m, the company said in a statement.
“In spite of the difficult market conditions, we were able to achieve record sales of 590,000 tonnes of fibres in the first three quarters of 2012 against the backdrop of the full utilisation of our production capacities,” said Lenzing CEO Peter Untersperger.
For the full year of 2012, the company expects a decline of average fibre selling prices to about €1,850/tonne.
The company expects to achieve consolidated sales of €2.1bn-2.15bn in 2012 and EBITDA of €350m-400m.
“Lenzing is well on track to achieve the second-best business results in the company’s history in 2012 as a whole,” the company added.
($1 = €0.78)
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