Biobased products are those that originate partially or completely from renewable resources. These products can be either biodegradable or non-biodegradable. 


This is the variability among living organisms from all sources including, among others, terrestrial, marine and other aquatic ecosystems and the ecological complexes of which they are part. This includes diversity within species, between species and of ecosystems.


The property of a substance or material to be degraded by microorganisms (bacteria, fungi, etc.) to water and carbon dioxide (CO2) and to be absorbed by the environment. Test methods specify a fixed time under defined conditions of temperature, oxygen and humidity, and a certain percentage of degradation.

Biorefinery products

Products from a biorefinery, from renewable raw materials.


Bioenergy is energy derived from biomass. The term refers to various forms of energy, including heat and electricity. Also, the biomass that contains this energy can be referred to as bioenergy. The main sources of bioenergy are renewable resources.


A biorefinery is a facility for sustainable processing of biomass into a spectrum of marketable biobased biorefinery products and bioenergy.


Blockchains are forgery-proof, distributed data structures in which transactions are recorded in the time sequence, traceable, unchangeable and without a central instance linked in a peer-to-peer network. The blockchain technology enables digital traceability of TENCEL™ branded fibers and the corresponding wood sources across each production and distribution step. The technology also allows consumers to verify the garment composition and the underlying textile supply chain. 

Carbon footprint 

A carbon footprint is the sum of greenhouse gas emissions and greenhouse gas removals of a product system or an organization, expressed as a carbon dioxide equivalent.


The raw material for pulp production. Cellulose is a component of all plants. The cellulose content of wood is about 40 percent..


By-products recovered during fiber production.


Decarbonization denotes the declining average carbon intensity (CO2 emission per unit of a product) over time. Products can be, for example, (primary) energy, gross domestic product, or any units produced by a company.

Dissolving wood pulp

A special kind of pulp with distinct characteristics which is used to manufacture viscose, modal and lyocell fibers and other cellulose-based products; this grade of pulp is characterized by a higher alpha cellulosic content and high purity.

ESG – Environmental, social and governance standards

Environmental, social and governance (ESG) refers to the three central factors in measuring the sustainability and ethical impact of an investment in a company or business.


The Forest Stewardship Council® (FSC) is an international non-profit organization for wood certification. 


A clear yellowish liquid with a characteristic scent of almonds. During viscose fiber production, beech wood is cooked and furfural is released in a double distillation process.

Greenhouse gas emissions

Emissions of gases which contribute to global warming by absorbing infrared radiation, thereby heating the atmosphere. The main contributors are carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O).


All stages of fiber production are concentrated at one and the same site, from wood, the raw material, to pulp and fiber production.

Lyocell fibers 

Lyocell fiber is the latest generation of wood-based cellulosic fibers. The generic fiber name is lyocell, the branded products from Lenzing are marketed as TENCEL™ and VEOCEL™ fibers. 

Modal fibers

Modal is a viscose fiber refined under modified viscose production conditions and spinning conditions. It is characterized by a particular softness and is the preferred fiber for high-quality underwear and similar products. The fibers have improved use characteristics such as tenacity, dimensional stability, and so forth. Lenzing markets these fibers under TENCEL™ Modal.


Nonwoven materials, fleece. Nonwovens made from Lenzing fibers are used for sanitary, medical, and cosmetics applications.


The Programme for the Endorsement of Forest Certification Schemes™ (PEFC) is an international non-profit organization for wood certification.


Pre-consumer upcycling is the reclamation of waste materials that were created during the manufacturing process prior to their delivery to a consumer (such as cotton scraps from garment making). 


A product made from post-consumer material is made from waste that has been used and disposed of by a consumer (such as used clothing).

Science-based targets 

Targets adopted by companies to reduce greenhouse gas emissions are considered “science-based” if they are in line with the level of decarbonization required to keep global temperature increase below 2 °C compared to pre-industrial temperatures, as described in the Assessment Report of the Intergovernmental Panel on Climate Change (IPCC).

sCore TEN

The name of the Lenzing Group’s corporate strategy stands for a steady focus on performance (scoring) and the strengthening of the core business (core) as well as for long-term growth with specialty fibers like TENCEL™ and VEOCEL™.


All internal and external persons or groups affected directly or indirectly by business activities currently or in the future. Standard fibers Standard LENZING™ fibers for textile applications (viscose, modal, lyocell) and standard LENZING™ fibers for nonwoven applications (viscose, lyocell) are fibers that are not designated as specialties.

Standard fibers 

LENZING™ standard fibers for textile applications (viscose, modal and lyocell fibers) and LENZING™ standard fibers for nonwoven applications (viscose and lyocell fibers) are fibers that are not designated as specialties.

Viscose fibers

Regenerated cellulosic fibers produced from raw materials of plant origin (e.g. wood) using the viscose process.


Wood sugar, component of thick liquor and base material for xylitol (sweetener that inhibits tooth decay)

Financial glossary

Adjusted equity

Equity including non-current and current government grants less the proportional share of deferred taxes on these government grants.

Adjusted equity ratio

Ratio of adjusted equity to total assets in percent.


Capital expenditures; i.e. acquisition of intangible assets, property, plant and equipment and biological assets as per consolidated statement of cash flows.

Capital employed

Total assets minus the following: non-interest-bearing debt, cash and cash equivalents, current securities, investments accounted for using the equity method and financial assets.

Earnings per share

The share of net profit/loss for the year attributable to the shareholders of Lenzing AG divided by the weighted average number of issued shares, calculated according to IFRS (IAS 33 Earnings per Share); the precise derivation can be found under note 17 in the notes to the consolidated financial statements.

EBIT (earnings before interest and tax)

Earnings before interest and tax, or operating result; the precise derivation can be found in the consolidated income statement.

EBIT margin

EBIT as a percent of revenue; represents the return on sales (ROS).

EBITDA (earnings before interest, tax, depreciation and amortization)

Operating result before interest, tax, depreciation on property, plant and equipment and right-of-use assets and amortization of intangible assets and before income from the release of investment grants.

EBITDA margin

EBITDA as a percent of revenue.

EBT (earnings before tax)

Profit/loss for the year before income tax expense. The precise derivation can be found in the consolidated income statement.


The equity item aggregates the equity instruments as defined by IFRS. An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. This represents the funds provided to the entity by its owners.

Free cash flow

Cash flow from operating activities less cash flow from investing activities and net cash inflow from the sale and disposal of subsidiaries and other business areas plus acquisition of financial assets and investments accounted for using the equity method less proceeds from the sale/repayment of financial assets. Free cash flow corresponds to the readily available cash flow.

Gross cash flow

Gross cash flow equals cash flow from operating activities before change in working capital; the precise derivation can be found in the consolidated statement of cash flows.


Abbreviation for International Accounting Standard(s), which are internationally recognized accounting rules.


Abbreviation for International Financial Reporting Standard(s), which are internationally recognized accounting rules.

Liquid assets

Cash and cash equivalents plus liquid securities and liquid bills of exchange.

Liquid funds

Cash and cash equivalents plus current securities.

Market capitalization

Weighted average number of shares multiplied by the share price as at the reporting date.

Net debt

Interest-bearing financial liabilities (= current and non-current financial liabilities) less liquid assets plus provisions for pensions and severance payments.

Net financial debt

Interest-bearing financial liabilities (= non-current and current financial liabilities) less liquid assets.

Net financial debt/EBITDA

Net financial debt as a percent of EBITDA.

Net gearing

Net financial debt as a percent of adjusted equity.

Net profit/loss for the year

Profit/loss after tax; net profit/loss. The precise derivation can be found in the consolidated income statement.

Non-interest-bearing debt

Trade payables plus the following: puttable non-controlling interests, other liabilities, current tax liabilities, deferred tax liabilities and the proportional share of deferred taxes on government grants as well as provisions (excluding post-employment benefits).


Net operating profit after tax; operating result (EBIT) less the proportional share of current income tax expense.

Post-employment benefits

Provisions for pensions and severance payments.

ROCE (return on capital employed)

NOPAT as a percent of average capital employed (average from January 1 and December 31).

ROE (Return on equity)

EBT (earnings before tax) as a percent of average adjusted equity (average from January 1 and December 31).

ROI (Return on investment)

EBIT (earnings before tax) as a percent of average total assets (average from January 1 and December 31).

Total assets

Total of non-current and current assets or the total of equity and non-current and current liabilities. The precise derivation can be found in the consolidated statement of financial position.

Trading working capital

Inventories plus trade receivables less trade payables.

Trading working capital to annualized group revenue

Trading working capital as a percent of the latest reported quarterly group revenue x 4.

Working capital

Net current assets. Inventories plus trade receivables and other non-current and current assets less current provisions, trade payables and other non-current and current liabilities.

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