LNZ Lenzing AG

EQS-News: Board member Walter Bickel will leave Lenzing at the end of March

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
The issuer is solely responsible for the content of this announcement.


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.

 

 

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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
E-mail  
Web     

 

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.

 



01.04.2025 CET/CEST This Corporate News was distributed by EQS Group.


Language: English
Company: Lenzing AG
4860 Lenzing
Austria
Phone:
Fax:
E-mail:
Internet:
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

EN
01/04/2025

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