Lenzing secures a EUR 300 million capital increase to stabilize finances
The funding supports the Grow Nonwovens Reset Textiles strategy through February 2027. The meeting also elected Martin Seiter to the supervisory board.
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Cellulosic fiber manufacturer and biorefinery operator
lenzing.comLast updated
In short: Lenzing returned to profitability while implementing a strategic transformation involving €300 million in capital and 2,000 job cuts.
The funding supports the Grow Nonwovens Reset Textiles strategy through February 2027. The meeting also elected Martin Seiter to the supervisory board.
Net result after tax more than doubled to EUR 35.6 mn, free cash flow improved to EUR 45.8 mn, and new 'Grow Nonwovens, Reset Textiles' strategy announced.
CEO Georg Kasperkovitz explains the rationale behind the dual focus on nonwovens growth and textile reset.
It will phase out plants in Austria and UK, take up to EUR 150 mn impairments, and seek up to EUR 300 mn capital increase.
Lenzing raises €600M and cuts 2,000 jobs to pivot to nonwovens, but shares lag as investors weigh transformation costs.
Lenzing nearly doubled its half-year profit, while restructuring, capital raising and a weak stock price are hindering the recovery.
A central pillar in the ownership structure is the Brazilian pulp company Suzano. The company acquired a 15 percent stake in Lenzing in June 2024 from...
Enterprise Value (EV) 2.48 billion 2.88 billion 2.33 billion 2.13 billion 3.98 billion 272 billion 3.99 billion 27.53 billion 10.68 billion 139 billion 10.81 billion...
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