During the first three quarters of 2020, the Lenzing Group successfully responded to the extremely difficult market environment of increased price and volume pressure due to the Covid-19 crisis by implementing a broad package of measures. An increasing demand toward the end of the third quarter, especially for wood-based specialty fibers such as Tencel Modal and Lenzing Ecovero, had a positive impact on the development of sales and results, but was still below the level of the previous year. As a result, sales for the first three quarters of 2020 dropped by 26.1 percent to 1.19 billion euro. As the Austrian company announced in its statement, Ebitda fell by 47.4 percent to €140.4 million, while the Ebitda margin dropped from 16.5 percent to 11.7 percent. The net loss for the period amounted to minus €2.8 million and earnings per share to minus €0.10.
The Lenzing Group assumes that the positive trend will continue in the fourth quarter and that the development of sales and results in the fourth quarter will exceed that of the third quarter 2020. However, if the number of infections continues to rise in the coming weeks and months and triggers a lockdown in further countries and regions, this could have a negative impact on the development of group sales and results.
