Investments
Capital expenditures for intangible assets, property, plant and equipment, and biological assets (CAPEX) amounted to EUR 141.1 mn in 2025 (compared with EUR 153.8 mn in 2024), reflecting a reduction in the level of investment activities.
In 2025, Lenzing continued to focus on maintenance and license-to-operate projects as well as projects to enhance efficiency and reduce costs as part of its performance program, following the considerable investments made in recent years. Key projects in 2025 are listed below.
In the reporting period, Lenzing commissioned a new photovoltaic system (PV system) with output of 1.3 megawatt peak (MWp) at its headquarters in Lenzing (Austria) in cooperation with energy company Verbund. This increased the total capacity of the PV systems at the site to 8.3 MWp. This contributes to the diversification of energy supplies, strengthens energy independence and aligns with Lenzing’s long-term energy and decarbonization strategy.
In 2025, the installation and successful commissioning of a new natural gas pipeline and related equipment (boiler and turbine) at the Nanjing (China) production site marked a significant step towards the transition from coal-based steam generation to a system based entirely on natural gas. Once the natural gas-based energy supply is fully established by 2027, greenhouse gas emissions are expected to be reduced by 100,000 tons compared to 2021. The investment for this conversion amounted to around EUR 30 mn.
As part of the measures for operational excellence, Lenzing replaced existing gas boilers at the Mobile site (USA) with more efficient models with an investment of around EUR 12 mn. The implementation was completed in 2025 and the new boilers are estimated to save around 8,000 tons of Scope 1 CO2 emissions per year at this site. This will improve the energy efficiency and cost base and represent an important step towards achieving the science-based targets.
See also the chapter “E1 Climate change” in the non-financial statement of the Annual and Sustainability Report.
The newly constructed wastewater treatment plant at the production site in Grimsby (UK) was fully commissioned in 2025. This project has now entered its second phase, in which further optimizations will be implemented in order to achieve the EU BAT (Best Available Techniques) limits in 2026. This strategic investment of EUR 24 mn, which covers all project costs, represents a significant step in the site’s sustainability strategy and supports the achievement of the ZDHC targets for lyocell and wastewater.
See also the chapter “E2 Pollution” in the non-financial statement of the Annual and Sustainability Report.