EQS-News: Lenzing AG / Key word(s): Personnel
Board member Walter Bickel will leave Lenzing at the end of March
01.04.2025 / 10:48 CET/CEST
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Board member Walter Bickel will leave Lenzing at the end of March
• Walter Bickel will retire from operational activities at the end of
March
• Performance program will continue unabated and make a sustained
positive contribution
Lenzing – The Lenzing Group, a leading provider of regenerated cellulose
fibers for the textile and nonwoven industries, announces personnel
changes in the company’s Managing Board. The Supervisory Board of Lenzing
AG and Dr. Walter Bickel, Chief Transformation Officer of Lenzing AG, have
mutually agreed to end the temporary mandate of Mr. Bickel and that Mr.
Bickel will step down from his operational activities at the end of March
2025.
Mr. Bickel was appointed to the Managing Board of Lenzing AG as of April
15, 2024 to strengthen the Lenzing Managing Board and to be responsible
for the further development and implementation of the performance program.
Under his leadership, a significant overachievement of the planned
contributions from the performance program could be realized. The basis
for future significant improvement steps is established, and the program
has been structured in a way that it can now be continued by Lenzing AG
seamlessly.
“Walter Bickel and his team took over the performance program a year ago
and have since made a significant contribution to improving the results of
the Lenzing Group. We would like to thank Walter Bickel for his dedicated
cooperation and wish him all the best for the future”, says Cord
Prinzhorn, Chairman of the Supervisory Board of Lenzing AG.
“With the consistent implementation of our performance program, which is
now well above plan, we have been able to significantly improve the
company in many areas and increase its crisis resilience. We will now
continue the program unabated and with the same discipline to ensure that
Lenzing remains the leading integrated fiber group and thus the innovative
force in the industry in the future”, says Rohit Aggarwal, Chief Executive
Officer of the Lenzing Group.
“I can look back on a successful time at the Lenzing Group. Together we
have made significant progress and established a sustainable performance
program that will continue to benefit Lenzing in the future. I would like
to thank the Managing Board and the entire Lenzing team for the successful
cooperation”, says Walter Bickel.
The Lenzing Group’s holistic performance program pursues the overarching
goal of significantly increasing long-term resilience to crises and
greater agility in order to respond to market changes. The program
initiatives are primarily aimed at improving EBITDA and generating free
cash flow through increased profitability and sustainable cost excellence.
Numerous activities are being undertaken to strengthen sales, such as
acquiring new customers for the most important fiber types and expanding
into new markets, which are already having a positive impact on sales. In
addition, the Managing Board expects significant cost savings, of which
more than EUR 130 m could already be realized in 2024.
In addition to the positive effects in the 2024 financial year on revenue
development (+5.7 % increase in revenue compared to 2023) and earnings
development (+30.4 % increase in EBITDA compared to 2023), the performance
program also improved free cash flow to EUR 167.0 mn (compared to minus
EUR 122.8 mn in 2023). Lenzing AG will continue to consistently implement
the ongoing performance program with the aim of achieving annualized cost
savings of over EUR 180 mn from the 2025 financial year onwards.
Photo download:
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Your contact for
Public Relations:
Dominic Köfner
Vice President Corporate Communications, Public Affairs,
Investor Relations & Sustainability Reporting
Lenzing Aktiengesellschaft
Werkstraße 2, 4860 Lenzing, Austria
Phone +43 7672 701 2743
E-mail (2)media@lenzing.com
Web (3)www.lenzing.com
About the Lenzing Group
The Lenzing Group stands for the responsible production of specialty and
premium fibers based on regenerated cellulose. As an innovation leader,
Lenzing is a partner of global textile and nonwoven manufacturers and
drives many new technological developments. The Lenzing Group’s
high-quality fibers are the raw material for a wide range of textile
applications – ranging from functional, comfortable, and fashionable
clothing through to durable and sustainable home textiles. TÜV-certified
biodegradable and compostable Lenzing fibers are also ideal for demanding
use in everyday hygiene applications.
The Lenzing Group’s business model extends far beyond that of a
traditional fiber producer. Together with its customers and partners,
Lenzing develops innovative products along the value chain, adding value
for consumers. The Lenzing Group strives for efficient utilization and
processing of all raw materials and offers solutions for the transition of
the textile industry from the current linear economic system to a circular
economy. In order to align its commitment to limiting man-made climate
change with the goals of the Paris Agreement, Lenzing has a clear,
science-based climate action plan that provides for a significant
reduction in greenhouse gas emissions (Scopes 1, 2, and 3) by 2030 and a
net-zero target by 2050.
Key Facts & Figures Lenzing Group 2024
Revenue: EUR 2.66 bn
Nominal capacity (fibers): 1,110,000 tonnes
Employees (full-time equivalents): 7,816
TENCEL™, LENZING™ ECOVERO™, VEOCEL™, LENZING™, and REFIBRA™ are trademarks
of Lenzing AG.
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01.04.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
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Language: English
Company: Lenzing AG
4860 Lenzing
Austria
Phone: +43 7672-701-0
Fax: +43 7672-96301
E-mail: office@lenzing.com
Internet: www.lenzing.com
ISIN: AT0000644505
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2109850
End of News EQS News Service
2109850 01.04.2025 CET/CEST
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