Lenzing stock: Margin gains support 2026 EBITDA outlook

Published on 11/10/2026 at 18:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Lenzing stock enters a new execution phase after stronger third-quarter margins. The group is balancing cost cuts, site changes and its full-year earnings target.

Margin gains meet transformation costs

Lenzing maintained adjusted EBITDA in the first nine months despite lower revenue and a volatile market.
Restructuring and impairment charges pushed reported earnings further into negative territory.
Management continues to target nonwovens growth, portfolio changes and lower leverage.

Lenzing, AT0000644505, Illustration mit AI erstellt.

Lenzing reported stronger underlying profitability for the first nine months of 2026 on November 5, even as revenue declined and restructuring costs weighed on reported earnings. The company said its strategy is focused on growing nonwovens while resetting the textiles business.

According to the Lenzing announcement, revenue fell 2.3 percent to EUR 1.93 billion in the first three quarters. Adjusted EBITDA was broadly stable at EUR 353 million, while the adjusted EBITDA margin improved to 18.3 percent from 17.9 percent.

Underlying margins improve

The third quarter provided the clearest operational improvement. The adjusted EBITDA margin reached 17.3 percent, up from 13.3 percent a year earlier, as Lenzing pursued lower-cost production and a more selective product mix.

Reported EBITDA declined to EUR 316.4 million and included EUR 36.6 million of restructuring-related effects. Non-cash impairment charges of EUR 136.1 million at the Heiligenkreuz and Grimsby sites also affected the result. Earnings after tax were negative EUR 130.3 million, while adjusted for impairment charges and restructuring effects, earnings after tax reached EUR 42.4 million.

Execution remains the next test

Lenzing continues to withdraw from low-margin standard fibers and concentrate textiles on premium and specialty applications. The company is also expanding nonwovens and strengthening its pulp and biorefinery activities.

Management expects full-year adjusted EBITDA between EUR 430 million and EUR 460 million, above the EUR 425.6 million achieved in 2025. The group is targeting an additional EUR 120 million in savings against its 2025 baseline, with the full earnings impact expected by the end of 2027.

Lenzing stock traded at 11.34 euros on Lang & Schwarz at 18:06 CET on Tuesday, November 10, 2026.