11. 11. 09. - 11:00
Lenzing profits crash
By Lisa Chapman
Upper Austrian fibre producer Lenzing AG has seen its profits crash in the first three quarters of the year, company figures showed today (Mon).
The firm said its earnings before interest and taxes (Ebit) had plunged from 107.1 million Euros during the same period of 2008 to only 51.7 million Euros during the first nine months this year. Net profit fell from 62 to 29.3 million Euros.
Turnover fell from 1.012 billion Euros during the same period of 2008 to 912.3 million Euros in the first three quarters of 2009 while cash-flow fell from 120.4 million Euros in the first three quarters of 2008 to 87.3 million Euros during the same period this year.
The firm said results had stabilised during the third quarter.
Chief Peter Untersperger said fibre production had been close to capacity since the end of the second quarter and prices worldwide had begun to increase in response to rising demand.