Lenzing's Grimsby Exit Slips to Late 2027 as Impairments Drive Nine-Month Loss to EUR 130.3 Million
Published on 11/11/2026 at 04:51 | Editorial boerse-global.de
Lenzing will keep its Grimsby site running until the end of 2027, the fibre maker disclosed on Thursday, extending a wind-down timeline that already stretches into early next year at Heiligenkreuz. Both plants are now the subject of sale reviews, and the pair carry a combined impairment charge of EUR 136.1 million that pushed the Austrian group deeper into the red for the first nine months of 2026.
The non-cash writedowns, booked against the Heiligenkreuz and Grimsby operations, lifted the net loss after tax to EUR 130.3 million, compared with a shortfall of EUR 105.0 million a year earlier. The figures were published on 5 November.
Margins edge higher as sales slip
Strip out the charges and the operating picture is steadier. Adjusted EBITDA came in at EUR 353.0 million, essentially flat against EUR 352.7 million in the prior-year period, while the adjusted EBITDA margin improved to 18.3% from 17.9%. Revenue, however, eased to EUR 1.93 billion from EUR 1.97 billion.
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Management continued to describe the trading environment as volatile, pointing to geopolitical tensions, tariff uncertainty and elevated energy and chemical costs. Analysts reviewing the nine-month numbers said a recovery has yet to fully take hold.
Heiligenkreuz buyer list set for November cut
Interest in the Heiligenkreuz plant has been brisk. Roughly 30 prospective buyers had registered their interest by 4 November, according to ORF, and a shortlist is due to be drawn up in mid-November. The supervisory board is expected to decide by year-end whether to sell or close the site.
Production at Heiligenkreuz had already been extended through the end of the first quarter of 2027. Grimsby, under the plan outlined Thursday, would cease output by the end of 2027.
Shares retreat
Investors took the update poorly. The stock fell 4.4% in the session following the announcement, having already shed 3.7% the previous day to close at EUR 11.44. dpa-AFX noted that Lenzing finished at the bottom of the ATX on that earlier day, even as the Vienna exchange closed with solid gains.
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