The Lenzing Group recorded a significantly improved revenue and earnings performance in 2021, compared to the previous year. The group’s revenue grew by 34.4 percent to €2.19 billion. In addition to the predominantly positive market environment, he focus on specialty fibers such as Tencel™, Lenzing™ Ecovero and Veocel™ branded fibers also had a positive impact on revenue growth. Specialty fibers currently account for 72.3 percent of fiber revenues. Significant increases in energy, raw material and logistics costs occurred throughout the reporting year. Earnings before interest, tax, depreciation and amortization (EBITDA) almost doubled compared to the previous year to reach a level of €362.9 million. The EBITDA margin rose from 11.8 percent to 16.5 percent. Net profit for the year amounted to €127.7 million and earnings per share stood at €4.16.

Gross cash flow almost tripled to €372 million in 2021 Cash flow from operating activities amounted to €394 million Free cash flow stood at-€445.5 million particularly due to investing activities in connection with the projects in Thailand and Brazil. Capital expenditure on intangible assets, property, plant and equipment and biological assets (CAPEX) increased by 26.3 percent to €844.3 million in the reporting period, approximately half of which was financed from cash flow from operating activities. The sharp rise in investment volumes is primarily due to the implementation of the two key projects.