Lenzing Lines Up EUR 300 Million in Extra Financing as Heiligenkreuz Sale Decision Looms

Published on 11/07/2026 at 13:51 | Editorial boerse-global.de

Lenzing is assembling about EUR 300 million in extra financing, half already binding, after an October capital increase lifted share capital.

Lenzing Lines Up EUR 300 Million in Extra Financing as Heiligenkreuz Sale Decision Looms Illustration mit AI erstellt.

Lenzing is assembling roughly EUR 300 million in additional financing arrangements, with about half of that sum already locked in through binding agreements, the Austrian fibre maker said on Thursday. Full implementation is targeted for the end of 2026.

The fresh commitments sit alongside a capital increase of around EUR 300 million that was completed in October 2026 — a transaction that has already been executed, unlike the broader financing package, where some binding pledges are still outstanding.

Share Count Reset After October Execution

The mechanics of that capital raise are now on the record. Registration of its implementation took place on 22 October, lifting share capital to EUR 76,204,702.90 from EUR 40,107,738.37. The new shares were delivered the following day, 23 October.

In a mandatory disclosure dated 30 October, Lenzing put the enlarged total number of voting rights at 73,374,542, a change effective from 22 October. Following completion of the raise, the syndicate of B&C-Gruppe and Suzano S.A. continues to hold approximately 52.25% of voting rights, according to the company.

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Nine-Month Figures Show Split Earnings Picture

For the first nine months of 2026, Lenzing reported revenue of EUR 1.93 billion and EBITDA of EUR 316.4 million, a figure weighed down by EUR 36.6 million in restructuring effects. Adjusted EBITDA came in at EUR 353 million, which the company described as stable, while the adjusted margin improved to 18.3%.

At the EBIT line, however, the group posted a loss of EUR 55.1 million. Non-cash impairments of EUR 136.1 million on long-term assets at the Heiligenkreuz and Grimsby sites drove the shortfall.

Two Sites Face Closure, One Has a Buyer in Sight

Those write-downs map directly onto the company's production plans. Lenzing intends to halt manufacturing at Heiligenkreuz by the end of the first quarter of 2027, with Grimsby following by the end of 2027.

Heiligenkreuz, a Lyocell plant, is simultaneously the subject of a sales process. According to media reports, a shortlist of roughly 30 interested parties is due to be drawn up in mid-November, with a decision on whether to sell or shut the site expected by year-end. A sale therefore remains one of two live options; no buyer has been confirmed.

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Chief executive Bernd Zauner, speaking on 30 October, said production at Heiligenkreuz would continue through the end of March 2027, with bids scheduled to be submitted in November as the sale process runs its course.