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Lenzing AG / Lenzing Group achieves fourth best full-year results in its history - Seite 2
specialty fibers in revenue and to invest in new technologies and business
areas", says Stefan Doboczky, Chief Executive Officer of the Lenzing Group. "The
very positive development of our specialty business in an expected challenging
market environment for standard viscose confirms our strategic direction and our
ambitious plans. Thanks to its specialty strategy and its strong brands based on
innovation and sustainability, the Lenzing Group is significantly more resilient
today than only a few years ago. However, we are not immune to global
developments, and further efforts and investments in specialty fibers are
required to become even more resistant to market fluctuations", Doboczky adds.
Zwtl.: Solid balance sheet, further increase in CAPEX
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Adjusted equity increased by 1.7 percent to EUR 1.55 bn. The adjusted equity
ratio decreased from 61.2 percent as at December 31, 2017 to 59 percent as at
December 31, 2018. ROCE (return on capital employed) declined to 10.3 percent in
2018 (2017: 18.6 percent). Despite higher capital expenditures, net financial
debt remained at a low level, totaling EUR 219.4 mn at the end of 2018 (December
31, 2017: EUR 66.8 mn).
Capital expenditures (CAPEX) of the Lenzing Group continued to increase to EUR
257.6 mn in 2018 (2017: EUR 238.8 mn.). Trading working capital rose by 7.2
percent to EUR 444.4 mn and cash flow from operating activities increased by 3.3
percent to EUR 280 mn. Expenditures for research and development (R&D),
calculated according to the Frascati method(1), amounted to EUR 42.8 mn in the
2018 financial year (2017: EUR 55.4 mn), putting Lenzing in the top ranks of the
industry both in absolute terms as well as in relation to revenue.
Zwtl.: Sustainability driven by innovation
The textile and nonwoven industries are faced with fundamental ecological
challenges, and as a leading producer of wood-based specialty fibers, the
Lenzing Group bears a special responsibility. In 2018, the company decided to
continue along its ambitious path and to invest roughly EUR 100 mn in
sustainable manufacturing technologies and production facilities by 2022 in
order to further strengthen its closed-loop model and support its customers in
replacing resource-intensive and environmentally harmful solutions.
With its most recent innovations, the Lenzing Group has taken important steps in
this direction. After the presentation of the REFIBRA(TM) technology, LENZING
(TM) ECOVERO(TM) branded high-performance and identifiable viscose fibers and
TENCEL(TM) Luxe lyocell filament yarn, Lenzing announced the successful
development of the LENZING(TM) Web Technology in 2018. This is a new technology
ratio decreased from 61.2 percent as at December 31, 2017 to 59 percent as at
December 31, 2018. ROCE (return on capital employed) declined to 10.3 percent in
2018 (2017: 18.6 percent). Despite higher capital expenditures, net financial
debt remained at a low level, totaling EUR 219.4 mn at the end of 2018 (December
31, 2017: EUR 66.8 mn).
Capital expenditures (CAPEX) of the Lenzing Group continued to increase to EUR
257.6 mn in 2018 (2017: EUR 238.8 mn.). Trading working capital rose by 7.2
percent to EUR 444.4 mn and cash flow from operating activities increased by 3.3
percent to EUR 280 mn. Expenditures for research and development (R&D),
calculated according to the Frascati method(1), amounted to EUR 42.8 mn in the
2018 financial year (2017: EUR 55.4 mn), putting Lenzing in the top ranks of the
industry both in absolute terms as well as in relation to revenue.
Zwtl.: Sustainability driven by innovation
The textile and nonwoven industries are faced with fundamental ecological
challenges, and as a leading producer of wood-based specialty fibers, the
Lenzing Group bears a special responsibility. In 2018, the company decided to
continue along its ambitious path and to invest roughly EUR 100 mn in
sustainable manufacturing technologies and production facilities by 2022 in
order to further strengthen its closed-loop model and support its customers in
replacing resource-intensive and environmentally harmful solutions.
With its most recent innovations, the Lenzing Group has taken important steps in
this direction. After the presentation of the REFIBRA(TM) technology, LENZING
(TM) ECOVERO(TM) branded high-performance and identifiable viscose fibers and
TENCEL(TM) Luxe lyocell filament yarn, Lenzing announced the successful
development of the LENZING(TM) Web Technology in 2018. This is a new technology
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