Lenzing's Heiligenkreuz Countdown Runs in Parallel With a US Fibre Bet
Published on 11/15/2026 at 11:20 | Editorial boerse-global.de
Lenzing has given itself until the end of 2026 to decide the fate of its Heiligenkreuz site. The Austrian fibre maker is currently weighing several non-binding purchase offers for the plant, and talks will move forward only with parties whose bids point to an economically viable future. Should no workable sale emerge by the deadline, the facility is slated to close at the end of the first quarter of 2027.
The disclosure, which surfaced on Thursday, caps a difficult stretch for the company. Impairments of EUR 136.1 million at Heiligenkreuz and Grimsby weighed heavily on the bottom line, according to ORF, leaving Lenzing with a loss of EUR 130.3 million for the first nine months of 2026. Those charges were part of the results published in early November.
Margin Edges Up as Revenue Slips
The operating picture was more nuanced than the net loss suggests. Revenue for the nine-month period came in at EUR 1.93 billion, down 2.3% from EUR 1.97 billion a year earlier. Adjusted EBITDA held steady at EUR 353 million, matching the prior-year figure. Because the top line shrank while operating earnings did not, the adjusted EBITDA margin improved to 18.3% from 17.9%.
Should investors sell immediately? Or is it worth buying Lenzing?
Restructuring effects of EUR 36.6 million dragged on the unadjusted figure, which landed at EUR 316.4 million.
Alabama Gets the Growth Capital
While Heiligenkreuz awaits its verdict, Lenzing is putting money to work in the United States. The company earmarked EUR 27 million to expand short-cut fibre capacity at its Mobile, Alabama, plant — a move aimed at strengthening production flexibility and specialty fibre development for nonwoven applications. The outlay forms part of a broader EUR 50 million programme for the nonwovens business, which also includes EUR 23 million for the Lenzing site in Austria.
Deutsche Bank Raises Its Sights, Cautiously
Analysts have taken note of the steadier operating performance. On 9 November, Deutsche Bank Research lifted its price target on Lenzing to EUR 14.30 from EUR 12.70, while reaffirming its "Hold" rating on the stock. The higher target therefore arrives without any change in the bank's overall stance on the shares.
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