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Lenzing: suspension of 2020 guidance due to COVID-19 crisis

As a result of the global corona crisis, the producer of cellulosic fibers, Lenzing AG, Lenzing/Austria, expects, based on recent developments, a negative impact on its textile sales volume. The potential impact cannot yet be reliably estimated, as it strongly depends on the duration of the crisis as well as its further effects on the global economy and textile markets. Consequently, Lenzing suspends its result forecast for 2020 as disclosed on March 12, 2020, when it expected the result for 2020 to be below the level of 2019. In order to mitigate a potentially stronger than expected decline in earnings, Lenzing has already started to implement cost saving measures across its sites globally.

Source:
dfv media group

Lenzing: solid 2019 results in a historically difficult market environment

Despite a generally difficult demand environment for textile fibers and a drastic drop in prices for standard viscose, the producer of cellulosic fibers Lenzing AG, Lenzing/Austria, recorded a solid business development in 2019.
Sales fell slightly by 3.3% to €2.10 billion, and EBIT (earnings before interest and tax) fell by 31.7% to €162.3 million year-on-year. Expenditures for research and development (R&D) amounted to €53.2 million in the 2019 financial year (2018: €42.8 million).
In order to meet the high demand for specialty fibers, an investment of more than €1 billion in new production facilities will be made in the coming years. The first expansion phase of this growth plan was approved in H1/2019: the construction of a state-of-the-art lyocell plant in Prachinburi/Thailand, which is the largest of its kind with a capacity of 100,000 tons. Production is expected to start in the H2/2021. The investment volume totals roughly €400 million.
The start-up of the dissolving wood pulp plant being built in Brazil is scheduled for H1/2022. With a capacity of 500,000 tons, the single-line plant will further enhance Lenzing’s independence of raw material markets.
In 2019, the company became the world’s first fiber producer to make a strategic commitment to climate-neutral production. Lenzing aims to implement this vision by 2050. The intermediate goal for 2030 is to reduce emissions by 50% per ton of product compared to 2017.

Source:
dfv media group

Oerlikon: stable 2019 results despite challenging market environment

In 2019, the Manmade Fibers Segment of the technology group Oerlikon Management AG, Pfäffikon/Switzerland, saw sales slightly increased slightly by 0.7% to CHF 1.1 billion, driven by business growth in Europe, China and the rest of Asia (excluding India). The growth was attributed to the filament equipment business in China, which compensated for the decline in carpet yarn and stable fibers businesses. EBIT was CHF 117 million in 2019 (2018: CHF 106 million). Order intake for 2019 slightly decreased by 3.0% to CHF 1.12 billion year-on-year, with the decline most notable in India and in the Americas.
In 2019, the segment presented a number of innovations, including a new eAFK Evo texturing machine with active cooling technology and a new winder based on a 24-end winding concept for the production of fully drawn yarn in the PA 6 process. The year also saw the introduction of the new carpet yarn solutions BCF S8 mono- and tricolor.
Together with its joint venture partner, BBEngineering, Oerlikon Barmag presented an in-house spinning plant recycling solution, VacuFil, to enable process material waste to be reused to manufacture high quality yarns. In 2019, the segment introduced the Oerlikon Nonwoven brand and closed initial deals for nonwoven systems used to manufacture filters and wipes. Furthermore, the segment successfully installed its first smart factory solutions, including data center in a box, in the market.

Source:
dfv media group