The Lenzing Group reports a strong operating result in 2021.
Over the course of 2021, Lenzing’s revenue and earnings significantly improved, despite considerable cost increases. There is an increased optimism in the textile and apparel industry because of vaccinations, recovery in the retail sector saw a rise in demand and prices on the global fiber market.
Revenue grew by 34.4 percent to EUR 2.19 bn. In addition to the predominantly positive market environment, the focus on specialty fibres such as TENCEL™, LENZING™ ECOVERO™ and VEOCEL™ branded fibers also had a positive impact on revenue growth.
Below is a full list summary of the report:
- Revenue and earnings performance significantly improved despite considerable cost increases
- Successful production start at world’s largest lyocell plant in Thailand
- Imminent start-up of world’s largest pulp mill of its kind in Brazil
- Lenzing recognised as “sustainability champion” several times worldwide – one of only 14 companies awarded “AAA” rating by CDP
- New, innovative reporting methods – Lenzing presents its online annual report for the first time
To read more, see the full report here.