Revenues of Lenzing Group, an Austrian leader in sustainable specialty fibers, grew by 27.5 per cent to €1.03 billion in H1 FY21 ended on June 1, 2021, compared to €810.2 million in the same period of previous fiscal.

The group’s EBITDA (earnings before interest, tax, depreciation and amortisation) during the six months doubled to €217.8 million from €95.6 million. It mainly attributes this growth in revenue to higher viscose prices, which stood at more than RMB 15,000 in May thanks to significantly higher demand for fibres, especially in Asia. The group’s focus on wood-based specialty fibers such as Tencel, Lenzing Ecovero and Veocel branded fibers also led to 72.8 per cent rise in the share of specialty fibres in its fibre revenues during the period.

For the six-month period, the group’s net profit rose to €96.1 million while CAPEX surged to €426.0 million. In FY21, Lenzing expects demand for its sustainably produced fibers to continue growing from the textile and apparel industry as well as for the hygiene and medical industry.