Lenzing Group Reports Further Improvement in Operating Result

The Lenzing Group, a key supplier of regenerated cellulose fibers, announced an improvement in its operating result for the first half of 2024. Revenue grew by 4.8% year-on-year to EUR 1.31 bn, driven by a 9.3% increase in fiber revenue.

EBITDA rose by 20.4% year-on-year to EUR 164.4 mn, reflecting the benefits of Lenzing’s performance program. The company's free cash flow increased to EUR 141.5 mn from minus EUR 165.4 mn in the same period of 2023.

The operating result (EBIT) reached EUR 18.9 mn, reversing from minus EUR 12 mn last year, while cash flow from operating activities was EUR 202.8 mn, up from minus EUR 29.2 mn.

Lenzing also noted changes in its managing board and a strategic partnership between B&C Group and Suzano S.A. The company expects to achieve higher EBITDA for 2024, despite economic uncertainties and market challenges.