COVID-19 impacts revenue and earnings of the Lenzing Group in 1H 2020

In 1H 2020, the Lenzing Group faced a historically difficult market environment with increased pressure on prices and volumes resulting from the COVID-19 crisis.

As a result, revenue declined by 25.6% from EUR 1.09 billion to EUR 810.2 million in 1H 2020. In addition to price effects, Lenzing also felt the decline in demand for textile fibers in all regions.

EBITDA fell by 46.6% to EUR 96.7 million in 1H 2020. The EBITDA margin decreased from 16.6% to 11.9%. Net profit for the period amounted to EUR 1.5 million (compared to EUR 78.8 million in 1H 2019) and earnings per share to EUR 0.06 (compared to EUR 2.97 in 1H 2019).