Investments

Capital expenditures for intangible assets, property, plant and equipment, and biological assets (CAPEX) amounted to EUR 156.3 mn in the reporting year (down from EUR 283.6 mn in 2023) due to reduced investment activities.

In 2024, Lenzing focused clearly on maintenance and license-to-operate projects as part of its performance program, following significant investments in previous years. To meet the group’s ambitious environmental standards, Lenzing has invested EUR 24 million since 2021 in the construction of a new wastewater treatment plant at the Grimsby site (United Kingdom). The plant is scheduled to be commissioned in 2025. Upon successful completion of this project, wastewater emissions at the site are expected to be reduced by up to 80 percent (see also chapter “E2 Pollution” in the non-financial statement of the Annual and Sustainability Report).

Part of the capital expenditures in 2024 also includes final payments for investment projects in China and Indonesia. Since 2021, Lenzing has invested more than EUR 200 million in the production sites in Nanjing (China) and Purwakarta (Indonesia) to convert existing capacities for generic viscose into capacities for specialty fibers, thus better meeting the structurally growing demand for environmentally friendly cellulosic fibers. The completion of these two investment projects, which help achieve the Lenzing Group’s net-zero target (see also chapter “E1 Climate Change” in the non-financial statement of the Annual and Sustainability Report), was achieved in 2023.