The Lenzing Group is starting to see results from its repositioning, reporting a return to profitability even as revenue slipped. The Austria-based Tencel producer posted revenue of 1.93 billion euros ($2.1 billion) for the first three quarters of 2026, down 2.3 percent, while adjusted EBITDA held nearly steady at 353 million euros ($393 million).
CEO Georg Kasperkovitz called the third quarter an important milestone, saying stable earnings and an improved margin show the company's measures are delivering. Lenzing is withdrawing from low-margin standard fiber segments and high-cost sites, cutting more than 260 full-time jobs as of Sept. 30 for annual savings of 27 million euros ($30 million). Production at its Heiligenkreuz, Austria plant is set to cease by the end of the first quarter of 2027, with its Grimsby, U.K. site closing by the end of 2027.
Unifi, maker of Repreve recycled polyester, reported first-quarter fiscal 2027 net sales of $127.9 million, down 5.7 percent, which it attributed mainly to tepid ordering in the Americas and Asia amid geopolitical and tariff uncertainty. Gross profit rose to $12.5 million from $3.4 million, and net debt fell to $64.8 million as of Sept. 27, 2026. CEO Eddie Ingle said the results demonstrate the benefits of actions taken to improve operational efficiency and profitability.
Originally reported by WWD