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(c) Lenzing
13.03.2020

Lenzing solid in a historically difficult market environment

  •  Historically difficult market environment – trade tensions put textile value chain under pressure in 2019
  •  Prices for standard viscose at a historic low
  •  Positive development of the specialty fiber business with a revenue share of already 51 . 6 percent
  •  Strategic investment projects are progressing according to plan
  •  sCore TEN targets for 2024 defined – EBITDA of EUR 800 mn

Lenzing – Despite a generally difficult demand environment for textile fibers and a drastic drop in prices for standard viscose, the Lenzing Group recorded a solid business development in 2019. The disciplined implementation of the sCore TEN corporate strategy and the accompanying focus on specialty fibers once again helped to mitigate the effect of unprecedentedly low standard viscose prices.

  •  Historically difficult market environment – trade tensions put textile value chain under pressure in 2019
  •  Prices for standard viscose at a historic low
  •  Positive development of the specialty fiber business with a revenue share of already 51 . 6 percent
  •  Strategic investment projects are progressing according to plan
  •  sCore TEN targets for 2024 defined – EBITDA of EUR 800 mn

Lenzing – Despite a generally difficult demand environment for textile fibers and a drastic drop in prices for standard viscose, the Lenzing Group recorded a solid business development in 2019. The disciplined implementation of the sCore TEN corporate strategy and the accompanying focus on specialty fibers once again helped to mitigate the effect of unprecedentedly low standard viscose prices.

As a result, revenue dropped by 3.3 percent from EUR 2.18 bn to EUR 2.11 bn in 2019, driven by lower selling prices as well as standard fiber volumes. Due to positive mix effects and more resilient specialty fiber prices, the share of specialty fibers increased from 45.5 percent to 51.6 percent of revenue. The earnings development was largely influenced by the decline in revenue, but also by negative currency effects on material and personnel costs. EBITDA (earnings before interest, tax, depreciation and amortization) fell by 14.4 percent from EUR 382 mn to EUR 326.9 mn. The EBITDA margin declined from 17.6 percent to 15.5 percent. Net profit, at EUR 114.9 mn, was 22.4 percent lower than in the previous year at EUR 148.2 mn. Earnings per share amounted to EUR 4. 63 ( 2018: EUR 5 . 61 ).

 

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Lenzing
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Lenzing

NCTO (c) NCTO
11.03.2020

NCTO Responds to China Commission’s Report on Forced Labor in China to Produce Global Products

National Council of Textile Organizations (NCTO) President and CEO Kim Glas issued the following statement today in response to the Congressional-Executive Commission on China’s staff report on the forced labor of Uyghurs and other minorities in China to produce consumer products for global companies.

We share the concerns of the bipartisan China commission regarding forced labor in China that is used to produce goods for global companies. We agree with the findings and the commission’s recommendations to the administration and Congress to take action against the systemic abuse of forced labor.

As the commission’s report details, Chinese apparel exporters have clearly profited from the virtual enslavement of this minority population, and we call for continued scrutiny and the end to this exploitation of a repressed people. The commission has served a fair warning to U.S. businesses and consumers to not be complicit in these forced labor practices.

NCTO is a Washington, DC-based trade association that represents domestic textile manufacturers, including artificial and synthetic filament and fiber producers. 

National Council of Textile Organizations (NCTO) President and CEO Kim Glas issued the following statement today in response to the Congressional-Executive Commission on China’s staff report on the forced labor of Uyghurs and other minorities in China to produce consumer products for global companies.

We share the concerns of the bipartisan China commission regarding forced labor in China that is used to produce goods for global companies. We agree with the findings and the commission’s recommendations to the administration and Congress to take action against the systemic abuse of forced labor.

As the commission’s report details, Chinese apparel exporters have clearly profited from the virtual enslavement of this minority population, and we call for continued scrutiny and the end to this exploitation of a repressed people. The commission has served a fair warning to U.S. businesses and consumers to not be complicit in these forced labor practices.

NCTO is a Washington, DC-based trade association that represents domestic textile manufacturers, including artificial and synthetic filament and fiber producers. 

  • U.S. employment in the textile supply chain was 594,147 in 2018. 
  • The value of shipments for U.S. textiles and apparel was $76.8 billion in 2018. 
  • U.S. exports of fiber, textiles and apparel were $30.1 billion in 2018. 
  • Capital expenditures for textile and apparel production totaled $2.0 billion in 2017, the last year for which data is available
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NCTO
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NCTO