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hygiene-austria.at

Stage

Acquired | Acquired

About Hygiene Austria

Hygiene Austria is a joint venture of Lenzing and Palmers that specializes in the production of protective equipment.On March 4th, 2021, Hygiene Austria was acquired by Lenzing. The terms of the transaction were not disclosed.

Hygiene Austria Headquarter Location

Ares Tower Donau-City-Straße 11

Vienna, 1220,

Austria

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Expert Collections containing Hygiene Austria

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Hygiene Austria is included in 2 Expert Collections, including Medical Devices.

M

Medical Devices

8,378 items

Companies developing medical devices (per the IMDRF's definition of "medical device"). Includes software, lab-developed tests (LDTs), and combination products. *Columns updated as regularly as possible.

H

Health IT

7,900 items

Latest Hygiene Austria News

PRESS RELEASE : Lenzing AG / Lenzing Group with an excellent start into 2021

May 5, 2021

05/05/2021 | 01:31am EDT Message : *Required fields =------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.=-------------------------------------------------------------------------------Earnings/Quarterly Report/Company InformationHighlights -* Significant increase in operating result: EBITDA at EUR 94.5 mn, cash flow from operating activities more than tripled* Major strategic projects continue fully on track - production start of the lyocell plant in Thailand expected in the fourth quarter 2021* Upper Austria's largest photovoltaic plant at the Lenzing site* Lenzing exits Hygiene Austria joint venture* Guidance 2021: Lenzing expects operating result at least at pre-crisis levelLenzing - The Lenzing Group had a clearly positive revenue and earningsdevelopment in the first quarter of 2021. Growing optimism in the textile andapparel industry as a result of the vaccination progress and the continuingrecovery in retail led to a significant increase in demand and higher prices inthe global fiber market.Revenue rose by 4.9 percent to EUR 489.3 mn in the first quarter of 2021. Thisis mainly attributable to a strong increase in demand from China and theresulting higher viscose prices. The focus on wood-based specialty fibers suchas TENCEL(TM) and LENZING ECOVERO(TM) branded fibers had a positive impact onrevenue development; the share of specialty fibers in fiber revenue rose from72.2 percent to 72.6 percent. The negative impact of more unfavorable currencyeffects was consequently more than offset. The earnings development essentiallyreflects the increase in revenue. The continued focus on structural earningsimprovements in all regions reinforced this positive effect. EBITDA (earningsbefore interest, tax, depreciation and amortization) increased by 36.8 percentto EUR 94.5 mn in the first quarter of 2021. The EBITDA margin rose from 14.8percent to 19.3 percent. Net profit for the period amounted to EUR 29.9 mn (01-03/2020: EUR 17.7 mn) and earnings per share to EUR 1.06 (01-03/2020: EUR 0.84). "Lenzing benefited from the growing optimism in the textile value chain and thestrong recovery of the fiber markets in the first quarter of 2021. Demand forour sustainably produced specialty fibers such as TENCEL and LENZING ECOVERO sawa clearly positive development again", says Stefan Doboczky, CEO of the LenzingGroup. "Strategically, we remain fully on track. The implementation of the pulpproject in Brazil proceeds according to plan despite the challenges related toCOVID-19, and the new lyocell plant in Thailand will start up as planned in thefourth quarter of 2021", Doboczky adds.Gross cash flow in the first quarter of 2021 increased by 117.5 percent to EUR84.3 mn compared to the first quarter of the previous year. This increase isprimarily due to the earnings development. Cash flow from operating activitiesmore than tripled to EUR 111.5 mn. (01-03/2020: 31.9 mn). Free cash flowamounted to EUR minus 99 mn (01-03/2020: EUR minus 106.7 mn) due to investmentactivities related to the projects in Thailand and Brazil.Zwtl. : Strengthening specialty fiber growthCAPEX (expenditures for intangible assets, property, plant and equipment andbiological assets) rose by 52.5 percent to EUR 211.5 mn in the reporting period,due to the implementation of the key projects. The construction of the pulp millin Brazil continues to proceed according to plan despite the challengingdevelopments related to COVID-19. The start-up of the pulp mill is stillscheduled for the first half of 2022. The new mill will strengthen backwardintegration and, consequently, Lenzing's specialty fiber growth in line with thesCore TEN strategy.Specialty fibers are Lenzing's great strength. The objective is to generate morethan 75 percent of fiber revenues from business with wood-based specialty fiberssuch as lyocell and modal fibers by 2024. The focus of this strategic target ison the construction of a new state-of-the-art lyocell plant in Thailand. Theinvestment for the new plant with a capacity of 100,000 tons amounts to roughlyEUR 400 mn. Construction work started in the second half of 2019 and wentaccording to plan in the reporting period. The recruiting and onboarding of newemployees is also progressing successfully. Production is scheduled to starttowards the end of 2021.Zwtl. : Vision of a zero-carbon futureWith the implementation of its science-based targets, the Lenzing Group activelycontributes to combating the problems caused by climate change. In 2019, Lenzingmade a strategic commitment to reducing its greenhouse gas emissions per ton ofproduct by 50 percent by 2030. The vision is to be climate-neutral by 2050. Thetwo key projects in Brazil and Thailand are important milestones on thisjourney. Thanks to its excellent infrastructure, the location in Thailand can besupplied with sustainable biogenic energy. In addition, the mill in Brazil willfeed more than 50 percent of the electricity generated into the public grid asrenewable energy.Zwtl. : Sustainability in LenzingLenzing continuously seeks possibilities to increase energy efficiency atexisting locations and to use renewable energy sources or sources with lower CO2emissions. In the first quarter of 2021, the company announced the constructionof the largest ground-mounted photovoltaic plant in Upper Austria on an area of55,000 m² at the Lenzing site. Construction is scheduled to start in the secondhalf of 2021.In its Sustainability Report 2020 [ https://www.lenzing.com/ index.php?type=88245&tx_filedownloads_file%5bfileName%5d=fileadmin/content/PDF/04_Nachhaltigkeit/Nachhaltigkeitsberichte/EN/NHB_2020_EN.pdf] "Stand up forfuture generations", Lenzing re-emphasized its commitment to take responsibilitybeyond the products it makes. The non-financial report, prepared in accordancewith the reporting standards of the Global Reporting Initiative (GRI) and theAustrian Sustainability and Diversity Improvement Act (NaDiVeG) and reviewed byKPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft,illustrates how the company is responding to the global challenges of our time.Zwtl. : Hygiene Austria LP GmbHAfter the allegations regarding Hygiene Austria LP GmbH became known in March2021, Lenzing worked intensively with Palmers Textil AG to address them. Thefollowing steps were taken together: Along with a committed action plan toensure the sound and continuing existence of the company as a going concern, thetwo shareholders have agreed that Lenzing's stake in Hygiene Austria will betransferred to Palmers. Lenzing waived its right to a suitable purchase pricefor the time being in order to ensure the continued existence of Hygiene Austriain line with its founding principle (see also Press release of Lenzing AG of 04/02/2021 [ https://www.lenzing.com/newsroom/press-releases/press-release/lenzing- update-on-hygiene-austria]). The investment was fully written off in the firstquarter.Lenzing stands for strong values and an internationally recognized process andgovernance system. However, mistakes were made in implementing the business ideaof Hygiene Austria. The Managing Board of Lenzing AG is drawing the necessarylessons for the future in consultation with the Supervisory Board.Zwtl. : Guidance for 2021The International Monetary Fund expects global growth of 6 percent for 2021.However, the economic recovery after the deep recession caused by COVID-19 issubject to risks and largely depends on the vaccination progress and successfulcontainment of the pandemic. The currency environment is expected to remainvolatile in the regions relevant to Lenzing.The global fiber and pulp markets came under considerable pressure as a resultof the COVID-19 crisis. The significant recovery of demand from the thirdquarter of 2020 onwards, starting in China, continued into the first quarter of2021. In February/March of this year, the market turned again and has sincemoved sideways. In the cotton market, a shortage in production volume isanticipated in the current 2020/2021 harvest and, consequently, a slightlydecline in inventory levels. The prices for dissolving wood pulp remain at ahigh level.Lenzing expects a continued increase in demand for sustainably produced fibersfor the textile and apparel industry as well as for the hygiene and medicalindustry. This trend is likely to continue unabated after the COVID-19 pandemic,not least due to a number of legislative initiatives.With the prospect of a progressing active immunization of a broad populationagainst COVID-19, optimism and confidence in an early return to normality arealso growing within the textile value chain. However, the currently positiveenvironment is still characterized by a high level of uncertainty, also due tothe increased occurrence of virus mutations and the extreme occurrence ofinfections in countries such as Brazil and India. Therefore, the visibilityremains limited.Taking into account the above factors, the Lenzing Group expects the operatingresult in 2021 to reach at least the level of the pre-crisis year 2019.In view of these developments, Lenzing considers itself well-positioned with itssCore TEN corporate strategy, and will continue to drive the completion of themajor strategic projects, which will make a significant contribution to earningsfrom 2022. In addition to its targets for EBITDA (EUR 800 mn) and ROCE (>10 %[1]), Lenzing also confirms its four other medium-term targets for 2024: netdebt/EBITDA (<2.5 x), share of specialty fibers (>75% of fiber revenue),internal production of dissolving wood pulp (>75 %), decarbonization (>40 %fewer CO2 emissions per ton of product).Selected indicators of theLenzing Group 01-03/2021 01-03/2020EUR mn (MORE TO FOLLOW) Dow Jones Newswires May 05, 2021 01:30 ET (05:30 GMT) Stocks mentioned in the article Change

  • Where is Hygiene Austria's headquarters?

    Hygiene Austria's headquarters is located at Ares Tower, Vienna.

  • What is Hygiene Austria's latest funding round?

    Hygiene Austria's latest funding round is Acquired.

  • Who are the investors of Hygiene Austria?

    Investors of Hygiene Austria include Lenzing and Palmers Textil.

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