Fibre producer Lenzing has raised its outlook for current financial year after the group recorded a significantly improved development of its operating result in the first half of 2021.

Lenzing’s preliminary EBITDA (earnings before interest, tax, depreciation and amortization) more than doubled year-on-year to EUR 217.8 million (compared to EUR 95.6 million in the first half of 2020).

“The currently positive environment is still characterized by a high level of uncertainty regarding the COVID-19 pandemic. Despite the continued limited visibility, the Managing Board of the Lenzing Group raises the outlook for the 2021 financial year,” the company said in a statement.

Considering the above factors and due to the very positive development of the first half of the year, the Lenzing Group expects the EBITDA in 2021 to reach at least a level of EUR 360 million.

Lenzing’s results for the first half of 2021 will be published on Wednesday 4 August 2021.

www.lenzing.com