Note 22. Financial assets

Non-current financial assets comprise the following:

The Lenzing Group has designated equity instruments of a fair value of EUR 12 thousand as measured at “fair value through other comprehensive income” as at December 31, 2023 (December 31, 2022: EUR 14,369 thousand). Non-current securities measured at fair value through other comprehensive income and other equity investments include shares in companies in which a share of less than 20 percent is held. The option to recognize these equity instruments at fair value through other comprehensive income was exercised based on the intent to hold these instruments in the long term.

As of December 31, 2022, non-current securities mainly comprised Oberbank ordinary shares of EUR 14,356 thousand, which were reclassified to current securities in the 2023 financial year. In the 2023 financial year, Oberbank ordinary shares paid dividends of EUR 203 thousand (2022: EUR 140 thousand).

Details about the loans can be found in note 37 and note 38.

Current financial assets include shares in the company Spinnova OY, Jyväskylä, Finland, in the amount of EUR 3,869 thousand (December 31, 2022: EUR 12,395 thousand) and Oberbank ordinary shares in the amount of EUR 14,852 thousand (December 31, 2022: EUR 0 thousand). In the 2022 and 2023 financial years, a partial disposal of the interest in Spinnova OY, Jyväskylä, Finland, was realized at fair value of EUR 1,615 thousand (2022: EUR 837 thousand). The realized gain of EUR 1,479 thousand (2022: EUR 812 thousand) was already included in other comprehensive income and was reclassified to retained earnings net of taxes of EUR 355 thousand (2022: EUR 203 thousand). In addition, some of the Oberbank ordinary shares were sold in the 2023 financial year at a fair value of EUR 3,000 thousand). The realized gain of EUR 1,949 thousand was already included in other comprehensive income and was reclassified to retained earnings net of taxes of EUR 468 thousand.