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MarketScreener Homepage  >  Equities  >  Wiener Boerse  >  Lenzing Aktiengesellschaft    LENV   AT0000644505

LENZING AKTIENGESELLSCHAFT

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Lenzing : Second pilot plant completed for TENCEL™ Luxe filament yarn

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02/06/2020 | 09:23am EST

Lenzing - The Lenzing Group completed the second pilot production plant announced in May 2018 for its innovative filament yarn TENCEL™ Luxe. Construction of the facility at the Lenzing site involving investments of EUR 30 mn could be concluded on schedule and within budget after 20 months of intensive work. The new pilot production line, which was put into operation in the middle of December 2019, gives Lenzing sufficient capacity for commercial programs and further application development.

Innovation in the eco-couture segment

Thanks to TENCEL™ Luxe, Lenzing is able to embed the issue of sustainability in the premium luxury market in combination with superior aesthetics. The properties of the fine filament yarn can be compared to those of silk due to its airy feeling on the skin and the matte finish. At the same time, TENCEL™ Luxe also stands out because of its extensive strength and high level of environmental compatibility. It is perfectly suited for very fine fabrics and as a blending partner for silk, cashmere and wool. For example, the yarn is used for making blouses and shirts, dresses, scarves, ties and the inner lining of suits.

'TENCEL™ Luxe opens up new markets for Lenzing and thus contributes to the successful implementation of our sCore TEN corporate strategy. At the same time, we are setting new standards in the luxury segment of the fashion industry with respect to sustainability', says Stefan Doboczky, Chief Executive Officer of the Lenzing Group. 'Many luxury brands have already realized what opportunities they would have by using this yarn made of the renewable raw material wood. The second pilot plant enables us to further press ahead with opening up new areas of application in collaboration with our customers', Stefan Doboczky adds.

Important basis for further growth

The new pilot production line will build upon the knowledge gained from operating the predecessor facility and leverage completely new and innovative automation models. The pilot plant developed by Lenzing and the know-how acquired during the construction phase will comprise the basis for the company's further expansion in the field of sustainable filament yarns. This will also comprise the starting point for the planned construction of a large commercial production plant at the Lenzing site.

Disclaimer

Lenzing AG published this content on 06 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2020 14:22:04 UTC

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Financials (EUR)
Sales 2020 1 998 M
EBIT 2020 113 M
Net income 2020 77,9 M
Debt 2020 979 M
Yield 2020 3,86%
P/E ratio 2020 23,4x
P/E ratio 2021 14,1x
EV / Sales2020 1,40x
EV / Sales2021 1,43x
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Average target price 71,00  €
Last Close Price 68,45  €
Spread / Highest target 28,6%
Spread / Average Target 3,73%
Spread / Lowest Target -16,7%
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NameTitle
Stefan Doboczky Chief Executive Officer
Peter Edelmann Chairman-Supervisory Board
Thomas Obendrauf Chief Financial Officer
Heiko Arnold Chief Technology Officer
Veit Sorger Deputy Chairman-Supervisory Board
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