Note 23. Financial assets

Non-current financial assets comprise the following:

The Lenzing Group has designated equity instruments of a fair value of EUR 14,369 thousand as measured at “fair value through other comprehensive income” as at December 31, 2022 (December 31, 2021: EUR 19,899 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.

Non-current securities primarily consist of Oberbank ordinary shares amounting to EUR 14,356 thousand (December 31, 2021: EUR 12,802 thousand). In the 2022 financial year there was a dividend payout of other investments and other securities, which amounted to EUR 140 thousand (December 31, 2021: EUR 960 thousand). The other equity investments as at December 31, 2021 consisted primarily of the investment in LP Beteiligungs & Management GmbH, Lenzing. In the 2022 financial year, the interest in LP Beteiligungs & Management GmbH, Lenzing, was divested at a fair value of EUR 7,700 thousand. The realized gain of EUR 6,650 thousand was already included in other comprehensive income and was reclassified to retained earnings net of taxes of EUR 1,662 thousand.

Current financial assets include the shares held in Spinnova OY, Jyväskylä, Finland, amounting to EUR 12,395 thousand (December 31, 2021: EUR 32,232 thousand), which were reclassified from other equity investments to current securities in the 2021 financial year (see note 36). In the 2022 financial year, a partial disposal of the shares in Spinnova OY, Jyväskylä, Finland, was realized at fair value of EUR 837 thousand. The realized gain of EUR 812 thousand was already included in other comprehensive income and was reclassified to retained earnings net of taxes of EUR 203 thousand.