Berenberg cuts Lenzing to 'hold' on profitability pressures, competition risks

Lenzing AG

02/10/2026 08:38

** Berenberg downgrades Austrian fibre maker Lenzing LENV.VI to "hold" from "buy", citing profitability pressures, competition risks
** The brokerage sees limited upside to EBITDA due to raw material cost inflation, restructuring charges and site closure costs
** Berenberg expects similar EBITDA y/y, with low-double-digit million euro cash costs for site closures
** It also warns that rapid lyocell capacity expansion in China could weigh on the company's pricing
** Shares fall close to 5%

(Reporting by Anastasiia Kozlova)
((Anastasiia.Kozlova@thomsonreuters.com))