Weaker Fiber Prices Push Lenzing's Profits Down

Lenzing says net profits in the first quarter of 2012 fell 27.6%, to €48.4 million ($62.8 million) compared with €66.9 million in the same quarter of 2011. Ebitda and Ebit also decreased 19% and 25.9% year over year, to €93.1 million and €67.2 million in the first quarter of 2012, respectively. The decreased earnings are a result of lower average fiber prices, the company says. Lenzing's sales remained at almost the same level in the first quarter of 2012 as in the year-earlier quarter with a decrease of less than 1%, to €528.2...

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