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The Textile Magazine
APRIL 2012
Friedrich Weninger, a member on the Management
Board.
The pulp plant Biocel Paskov (Czech Republic)
acquired within the context of the Lenzing Group’s
further backward integration was rapidly expanded in
the reporting year to enable production of both paper
pulp and dissolving pulp. Some 60,000 tons of dis-
solving pulp were already produced in Paskov in 2011
and largely used for fiber production within the Lenzing
Group.
The Segment Plastics Products developed satisfactori-
ly in 2011, showing an EBITDA margin of 9.5 per cent.
A new record for shipment volumes was posted
during the year under review against the
backdrop of very good demand.
The Segment Engineering was also
able to optimally take advantage of the
fundamentally positive mood in the
capital goods market during the year,
achieving an EBITDA margin of 8.4
per cent. Lenzing Technik profited
from both the extensive investment
activity of the Lenzing Group as well
as from growing demand on the part of
external customers.
Outlook
Once again the Lenzing Group expects a good year
in 2012, which should see quarterly development in
a mirror-inverted manner. However, in terms of mar-
gins the current financial year will not be able to fully
match the exceptional record year of 2011.
For the time being prices for Lenzing’s standard
viscose fibers should stabilize at a low level. In the
course of 2012 Lenzing anticipates a higher price lev-
el than in the first quarter as a result of rising demand
for both textile and nonwoven applications.
Good volume demand is expected for Lenzing
Modal, which should continue to ensure a fair price
premium
vis-à-vis
standard viscose fibers and cotton.
However, the considerable increase in the supply of
modal is resulting in temporary price adjustments
compared to the 2011 price levels. With respect to
TENCEL, Lenzing foresees ongoing strong demand
for textile and nonwoven applications and a largely
stable price premium
vis-à-vis
standard viscose fib-
ers.
As a consequence of significantly higher fiber ship-
ment volumes but in the light of lower average prices
in comparison to the prior year level, sales should rise
to a level of between EUR 2.2 billion and EUR 2.3
billion in 2012. EBITDA should range between EUR
400 million and EUR 480 million and EBIT is ex-
pected to range between EUR 285 million and EUR
365 million, depending on the development of fiber
and raw material prices as well as the overall global
economic environment.
Lenzing will press ahead with its dynamic expan-
sion program as planned, involving investments to-
talling EUR 350 million in 2012. The good earnings
situation and continued high liquidity will enable the
company to propose a dividend to the shareholders
amounting to EUR 2.50 per share, i.e., about 25 per
cent of the consolidated net income for the 2011 fi-
nancial year.
w
fiber
Mr. Thomas G. Winkler,
Chief Financial Officer