Lenzing Hands Heiligenkreuz a Year-End Deadline as Fresh Funding Tops EUR 300 Million
Published on 11/12/2026 at 12:31 | Editorial boerse-global.de
Lenzing has set itself a firm timetable for deciding the fate of its Heiligenkreuz plant: by the end of 2026 the Austrian fibre maker will determine whether a viable sale can be struck, with production at the site slated to stop at the end of the first quarter of 2027 if no buyer emerges. The company disclosed on 5 November that it is reviewing several non-binding offers for the facility, and that the outcome of that review will settle whether the plant changes hands or winds down.
The same announcement mapped out a broader retreat from older production capacity. Lenzing confirmed it is still pursuing the sale of its Indonesian fibre manufacturing site, while weighing options for both Heiligenkreuz and Grimsby. For the British plant, the plan is to halt production by the end of 2027 — a later date than the Austrian site's early-2027 cutoff.
Funding cushion assembled
Alongside the site decisions, Lenzing reported new financing arrangements worth roughly EUR 300 million, about half of which had already been contractually secured. That package sits on top of a capital increase of around EUR 300 million completed in October. Following that share issue, the syndicate of the B&C Group and Suzano held approximately 52.25% of voting rights.
Should investors sell immediately? Or is it worth buying Lenzing?
The fresh liquidity arrives as restructuring costs weigh on reported earnings. Lenzing booked revenue of EUR 1.93 billion in the first nine months of 2026, down from EUR 1.97 billion a year earlier. Adjusted EBITDA came in at EUR 353 million, equal to an 18.3% margin. Reported EBITDA, however, was EUR 316.4 million after EUR 36.6 million in restructuring charges were deducted.
Guidance holds despite charges
Management is sticking with its full-year outlook: adjusted EBITDA of EUR 430 million to EUR 460 million for 2026. Investors took the announcements in stride, sending the shares up 2.5% to EUR 11.56.
The Heiligenkreuz question now rests on whether the non-binding bids on the table can be converted into an economically sound transaction. Lenzing's review window runs to the end of 2026; absent a workable deal, the shutdown pencilled in for the end of the first quarter of 2027 becomes the default path.
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