Lenzing AG Announces Suspension of Dividend Policy

Lenzing AG, a leading fiber production company, announced today that it is suspending its dividend policy, which promised shareholders a minimum of EUR 4.50 per share, indefinitely. This decision was made by the company's Managing Board and signifies a notable shift in Lenzing’s financial strategy.

Despite this change in dividend policy, Lenzing remains optimistic about its financial outlook. The company is projecting an increase in its EBITDA for the financial year 2024, indicating a positive financial trajectory compared to the previous year. This forecast represents the company's resilience and capability to navigate through its strategic adaptations while maintaining a promising financial performance.