Austrian lighting company Zumtobel restructures have helped the company turn around the EUR 4.8 million (US $ 5.32 million) losses it incurred in the last fiscal year, reported Austrian media Die Presse.

Zumtobel projected adjusted earnings before interest and tax (EBIT) rose 39.7% to EUR 66.5 million, bringing its net profits to an estimated EUR 11.9 million for fiscal year 2014/2015.

The company expects a 5% revenue boost and adjusted operating profit of EUR 90 million to 100 million for 2015/16, reported Reuters.

Apparently, the company’s restructure measures to improve cost structure and capacity utilizations since 2013 have paid off, reported Die Presse. The company shut down three manufacturing sites including factories in Switzerland, Sweden and China out of its 18 global manufacturing sites. The company has also sold its office in New Zealand and Innsbruck. As part of its restructure process, the company slashed 70 jobs at the plant in Lemgo, Germany, and has relocated part of the production to another location, said the company CEO Ulrich Schumacher.

Further costs reductions were made by integrating previous Zumtobel and Thorn lighting works global production network, according to the report.