Lenzing Locks In EUR 300 Million Financing as Heiligenkreuz Sale Decision Looms
Published on 11/12/2026 at 06:41 | Editorial boerse-global.de
Lenzing has secured fresh financing arrangements worth roughly EUR 300 million, the Austrian fibre maker said on 5 November, with about half of that sum already contractually committed. The new money sits alongside the approximately EUR 300 million capital increase completed in October, giving the group a substantially thicker liquidity cushion as it reshapes its production footprint.
The funding disclosure came in the same announcement in which Lenzing confirmed it is pressing ahead with the sale of its Indonesian fibre production site while weighing options for two European plants. Grimsby is slated to cease production by the end of 2027, a longer runway than previously indicated.
Heiligenkreuz: bids on the table, deadline at year-end
Several non-binding purchase offers for Heiligenkreuz are now under review. Management intends to establish by the end of the year whether an economically viable sale can be struck — failing which output would stop at the close of the first quarter of 2027. The outcome of that assessment will determine whether the plant changes hands or follows the shutdown path already mapped out.
Interest in the site has been considerable. Roughly 30 parties came forward, and a shortlist is expected to be drawn up in mid-November, according to ORF. Production at Heiligenkreuz has already been extended through the end of March 2027, buying time for the sale process to play out.
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Ownership stays put
On the shareholder register, the syndicate formed by B&C-Gruppe and Suzano S.A. continues to hold about 52.25% of Lenzing's voting rights, a position the company confirmed on 29 October. Suzano Holding S.A. picked up an additional 0.80% directly in Lenzing as part of the capital increase that closed roughly three weeks earlier.
Nine-month figures: margin up, bottom line down
The results for the first nine months of 2026, published about a week before the financing update, showed revenue of EUR 1.93 billion. Adjusted EBITDA came in at EUR 353.0 million, broadly stable, while the adjusted EBITDA margin improved to 18.3%.
Profitability below the operating line took a hit. EBIT was negative at EUR 55.1 million and the result after tax fell to EUR -130.3 million, dragged down chiefly by impairments of EUR 136.1 million on assets in Heiligenkreuz and Grimsby.
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Guidance intact
Despite the red ink, Lenzing is holding to its full-year outlook: adjusted EBITDA of EUR 430 million to EUR 460 million for 2026. The annual results are scheduled for release on 18 March 2027.
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