5. Revenue

The breakdown of revenue is shown in the segment report (see note 4, in particular information on products and services as well as geographic regions).

Revenue results exclusively from contracts with customers in accordance with IFRS 15 (Revenue from Contracts with Customers). Revenue comprises all income generated by the typical business activities of the Lenzing Group.

Income is recognized at a point in time, and thus when ownership of the product has been transferred to the customer (i.e. with the transfer of risks), the amount of income and the related costs can be reliably determined and the economic benefits from the transaction will probably flow to the Group.

Since all performance obligations in the Lenzing Group have a term of a maximum of one year, the remaining performance obligations are not disclosed.

Contract liabilities are presented under other liabilities and consist mainly of down payments received of EUR 18,830 thousand (December 31, 2023: EUR 12,198 thousand) and accruals for discounts and rebates of EUR 4,033 thousand (December 31, 2023: EUR 4,525 thousand) (see note 32). The amount of EUR 11,479 thousand included in contract liabilities as at December 31, 2023 has been recognized as revenue in 2024 (2023: EUR 12,113 thousand).