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The Lenzing Group Announces Q1 Results

The Lenzing Group Announces Q1 Results

The Lenzing Group, producer of specialty fibres, has announced its first half (H1) results for fiscal year 2020.

Revenue during H1 FY20 ended on June 1, 2020, declined 25.6 per cent to €810.2 million compared to €1.09 billion in same period last year.

Lenzing reported decline in demand for textile fibres in all regions during H1 FY20. Group also suggested that

the slightly higher demand for fibres in the medical and hygiene segments reduced the losses but could not offset them.

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To meet the increased demand for high-quality hygiene and protective equipment,

Lenzing AG and Palmers Textil AG founded Hygiene Austria LP GmbH in late April, in which Lenzing AG holds 50.1 per cent and Palmers Textile AG 49.9 per cent.

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