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Declining Revenues and Net Income at Lenzing
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The performance of the Austrian Lenzing Group in the first quarter of 2012 was in line with expectations. EBIT decreased to € 67.2m after € 90.7m in the first quarter of 2011.
Declining Revenues and Net Income at Lenzing / Picture: © Lenzing
Average fiber selling prices, which were down 11% on average compared to the first quarter of 2011 (minus 5.6% from the fourth quarter of 2011), could be largely compensated on the revenue side by a new record level of fiber shipment volumes. As a result of the lower average fiber prices, quarterly earnings did not match the particularly good results achieved in the prior-year…
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