From the Sector

In the first nine months of 2025, Lenzing AG recorded revenue growth and higher EBITDA, but a market-driven volatile third quarter. This performance reflects the effects of ongoing market volatility, tariffs and geopolitical uncertainties. Nevertheless, the medium to long-term outlook remains positive. 
 
The revenue generated by Lenzing AG rose by 0.7 percent to EUR 1.97 bn (prior-year period: EUR 1.96 bn) in the first nine months. EBITDA grew by 29.1 percent to EUR 340.4 mn (prior-year period: EUR 263.7 mn), including effects from the sale of surplus emission allowances and the valuation of biological assets. The EBITDA margin improved to 17.3 percent (prior-year period: 13.5 percent). Earnings before interest and tax (EBIT) amounted to EUR 20.6 mn (prior-year period: EUR 38.3 mn), which corresponds to an EBIT margin of 1 percent (prior-year period: 2 percent). This result includes asset impairments of EUR 82.1 mn in Indonesia. Earnings before tax (EBT) amounted to EUR minus 98.7 mn (prior-year period: EUR minus 33.4 mn).  
 
Strategic development 
Lenzing AG pursues a holistically adapted strategy with a clear focus on value-generating growth. Key pillars of this strategy include enhancing operational efficiency, optimizing production sites, and targeting high-margin premium products such as TENCEL™, VEOCEL™, and LENZING™ ECOVERO™. Additional growth potential is expected particularly in the fields of hygiene, packaging, filtration, as well as medical and industrial applications. 
 
To sustainably secure this growth and strengthen long-term competitiveness, the company has initiated a strategic review of its production site in Indonesia. The planned measures – including adjustments to administrative functions – are expected to generate additional annual savings of approximately EUR 45 mn by the end of 2027. For the current reporting year, the Management Board anticipates cost savings exceeding EUR 180 mn. Furthermore, the company is investing over EUR 100 mn in its sites in Lenzing and Heiligenkreuz and aims to achieve holistic energy optimization of more than 5 percent across all production locations. Strategic options for the site in Indonesia are being evaluated, including a potential sale. 
 
The Supervisory Board also made personnel decisions during the reporting period: The Managing Board mandate of Christian Skilich, Chief Pulp & Chief Technology Officer, was extended until May 2029. Mathias Breuer, currently Senior Vice President and responsible for the performance program, will become CFO from January 1, 2026, and succeed Nico Reiner, who is due to step down from his position at the end of 2025.  

Solid financial position in a difficult environment 
Thanks to its strong focus on cash management, Lenzing succeeded in leaving no doubt about its adequate liquidity position during the reporting period. As of September 30, 2025, the company held liquidity cushion of EUR 993 mn. The capital structure was strengthened by a EUR 500 mn hybrid bond and a EUR 545 mn syndicated financing facility. Net financial debt was reduced by 8.5% to EUR 1.4 bn as of the reporting date. With total assets of EUR 4.80 bn, this corresponds to an adjusted equity ratio of 30.7% as of September 30, 2025. 
 
Cash flow from operating activities amounted to EUR 284.6 mn (prior-year period: EUR 319.4 mn). Free cash flow was also positive at EUR 110.9 mn. (prior-year period: EUR 194.0 mn) Furthermore, unlevered free cash flow amounted to EUR 192.1 mn (prior-year period: EUR 228.6 mn). 
 
Capital expenditure amounted to EUR 93.2 mn (prior-year period: EUR 93.3 mn).  

Outlook 
The global environment remains volatile. The International Monetary Fund (IMF) expects growth of 3.2 percent in 2025, but warns of trade conflicts and financial instability. Consumer sentiment is subdued, and higher tariff costs could further weigh on demand in 2026. Based on the business performance to date and the current market outlook, the Managing Board expects year-on-year growth in EBITDA in 2025. The actual business performance may nevertheless diverge from current expectations depending on geopolitical and economic factors as well as the cyclical nature of the industry. Any assessment of economic development is therefore subject to forecasting risks.

A new chapter for circular plastics in Europe began November, 5 with the official opening of Områ, Norway’s new national facility for sorting all types of plastic packaging waste—including plastic that previously had no other option than to go to incineration.

Jointly owned by TOMRA (65%) and Plastretur (35%), the state-of-the-art facility has the capacity to process 90,000 tonnes of plastic per year, transforming plastic packaging waste into uniform polymer fractions ready for recycling.

Områ uses advanced sensor-based technology to sort mixed plastic waste into ten separate monofractions— including polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polystyrene (PS), and others — enabling improved recovery and increased recycling rates. This innovation closes the loop for plastics and represents one of the most advanced installations of its kind globally.

“Områ is more than a facility — it’s a missing link in Europe’s circular economy,” said Tove Andersen, President and CEO of TOMRA. “This facility has the capacity to receive and transform all of Norway’s household plastic packaging waste into recyclable fractions, essentially closing the loop for plastics. It is a cornerstone piece of infrastructure providing reliable offtake for mixed waste sorting facilities, and can help recover more resources from source separated material.”

The new facility, located at Holtskogen, just outside Oslo, will serve as a reliable offtake solution for municipalities and waste management companies considering the introduction of automated mixed waste sorting (MWS), a crucial step for increasing recycling rates without depending solely on household source separation.

By 2030 the EU requires minimum 55% of plastic packaging waste to be recycled (i.e., collected and recycled at scale) under the forthcoming PPWR. Today, approximately one-third of Norway’s plastic packaging waste is recycled; the rest is mostly incinerated. 

“Områ gives municipalities and the entire value chain a clear signal: there is now a scalable, high-quality route for plastic packaging,” said Karl Johan Ingvaldsen, CEO of Plastretur. “It provides the infrastructure needed to meet EU recycling targets and supports our shared ambition to build a truly circular plastics economy.”
 
About Områ
Områ is a joint venture between TOMRA Systems ASA (65%) and Plastretur AS (35%), established to develop and operate Norway’s first national fine-sorting facility for plastic packaging waste. The facility is located at Holtskogen, approx. 45 min outside Oslo, and has an annual processing capacity of 90,000 tonnes. Using TOMRA’s world-leading sensor-based sorting technology, Områ separates mixed plastic streams into up to ten distinct polymer fractions for high-value recycling.

106 brands, 16 locations, more than 70 events and around 10,000 registered visitors: interior design days cologne celebrated its premiere from 26 to 29 October 2025. The new, decentralised format brought interior design right into the city and combined brand presentations with inspiring talks, curated tours and a variety of networking highlights. The positive feedback from exhibitors and the public shows: idd cologne became the stage for exclusive interior design concepts in the residential, hospitality and contract business segments and transformed Cologne into a lively meeting point of the interiors community. 

"Urban-only": interior design staged in a new way 
With its "urban-only" concept, idd cologne relied on a new form of brand staging: the creative collections, interior design ideas and design trends were presented at authentic and architecturally special locations throughout the Cologne urban area. 

Central venues were the Design Post Köln – an official Koelnmesse cooperation partner as of this year –, the listed monument Stoff-Pavillon Moeller and the machwerkhaus köln, a centre for design and urban production. The concept was supplemented by numerous showrooms, creative locations, flagship stores and pop-up formats of the local design scene. In total, 106 brands from the premium range joined at 16 locations to form a unique city tour through the diverse world of interiors – from classic living through hospitality to contract solutions. Embedded in the architecture and atmosphere of Cologne, a total experience arose that presented interior design there where people live, work and design. 

Event highlights of the premiere 
The event programme of idd cologne was distinguished by depth of content and a high level of experience quality. In total, the event offered more than 70 events that combined design, architecture and urban life in an inspiring way. The spectrum extended from lectures and panel talks to sociable networking formats – the spirit of idd cologne was tangible throughout the city. 

The Urban Design Walks proved to be real crowd-pullers. The six tours led to central venues of idd cologne and made it possible to directly experience current design trends. In the Architonic Talks, leading minds from architecture and design provided forward-looking insights into themes like longevity, emotional spatial impact, brand identity and material properties. Also a special highlight was the idd cologne Aperitivo in the Stoff-Pavillon Moeller, which promoted an exchange and networking within the design community in a relaxed atmosphere. 

The future of idd cologne 
idd cologne 2025 was an important step in the continuing development of the trade fair portfolio in the furniture and interior design segment of the Cologne location. With the change to the urban format, idd cologne implemented important impulses and wishes of the industry. At the same time, it became evident how dynamic the current market situation is: forms of use, target groups and expectations are changing rapidly and call for flexible trade fair concepts. In a close exchange with the furniture industry, experience values, feedback and perspectives will now be evaluated by partners, exhibitors and visitors. Taking other market and economic situation development factors into account, this provides the foundation for the continuing development of idd cologne in future.  

idd cologne in figures 
A total of 106 premium brands participated in idd cologne 2025 at 16 locations throughout the Cologne urban area. More than 70 individual events took place. According to the figures for registrations, including the last day of the fair, around 10,000 visitors registered for interior design days cologne. 

Heraeus Precious Metals, a leading company in the precious metals industry, and RUDOLF, an international specialist in textile chemistry, have signed an agreement for the exclusive marketing of products for textile finishing and textile care. The cooperation focuses on Heraeus Precious Metals‘ AGXX technology, a groundbreaking antimicrobial innovation that has the potential to transform the textile industry in the long term.

AGXX works in a fundamentally different way to conventional biocides, especially silver technologies. The technology is based on a catalytic reaction triggered by the interaction of two precious metals. In the presence of air humidity, oxygen is converted into reactive oxygen species. These kill odour-causing and other microorganisms and also have an oxidative effect on odour-causing residues. As the mechanism is based on a circular redox system, AGXX technology is not consumed but continuously regenerated. The versatile technology can be integrated into textile finishing processes as well as directly into fibres and yarns.

By integrating the AGXX technology developed by Heraeus Precious Metals, RUDOLF is specifically expanding its portfolio with a technologically advanced solution for the functionalisation of textiles.

The strategic expansion of its product portfolio will enable the company to position itself even more clearly as an innovation leader in a dynamic market environment. Based on AGXX technology, it offers its customers optimised, market-ready products that provide them with differentiated added value in the areas of textile (initial) finishing, care and aftercare applications for industrial, commercial, professional and end-user purposes.

Martin Danz, Global Head of Antimicrobial Technologies at Heraeus Precious Metals, comments: „Our strategic collaboration with RUDOLF is a significant step towards the further development of the textile market. Together, we will continue to develop the application possibilities of AGXX particles in textile finishing and explore new areas of application and effectiveness for the technology.“

Marcos Furrer, Chief Executive Officer (CEO) of RUDOLF, explains: „This partnership sends a clear message: we are combining two strong innovative forces to give the textile industry new impulses. AGXX technology complements our portfolio perfectly – it is powerful, performance-oriented and offers real added value for our customers. Together with Heraeus Precious Metals, we are creating solutions that are functionally impressive and at the same time meet the growing demands of the market.“

As the global shift toward sustainable hydrogen storage accelerates, thermoplastic composites are emerging as a transformative enabler. Building on its longstanding partnerships with leading companies across the composites value chain, AZL Aachen GmbH has launched its new Joint Partner Project “Thermoplastic Pressure Vessels – Benchmarking of Design -for-Manufacturing Strategies to Optimise Material Efficiency and Cost”. Among the first participants, Toyota Motor Europe underscores the strategic importance o f a comparative evaluation of design and manufacturing concepts for thermoplastic composite pressure vessels.

Driving Innovation in Thermoplastic Composites
Thermoplastic composites offer unique advantages for high-pressure vessel applications: automation, energy efficiency, recyclability, and reprocess ability. However, when thermoset -derived design principles are applied unchanged, the unique processing and performance capabilities of thermoplastics remain largely untapped.

AZL’s new project therefore takes a holistic approach — thermoplastic -driven vessel designs, manufacturing processes, and material configurations to maximise both economic and technical performance.

Dr. Martin Kerschbaum, Manager ME22 at Toyota Motor Europe, highlights the motivation behind Toyota’s participation :
“The usage of thermoplastic resins for manufacturing of high -pressure hydrogen storage vessels is of high interest for Toyota. This is due to potential advantages in terms of design, processing, performance, and circularity. It is essential to compare and evaluate the diverse options of design and manufacturing strategies for high -pressure vessels based on thermoplastic composite materials. Gaining additional insights into the key influencing factors on material efficiency, production scalability and realistic cost - structure scenarios is a crucial part of this process. AZL’s structured approach – a combination of know-how in applications, composite materials and production systems with expertise across the entire value chain – provides Toyota with valuable input for the further development of innovative storage systems.”

A Structured, Comparative Development Framework
The nine-month project brings together international industry partners to explore new thermoplastic vessel concepts. It is structured into three work packages:
WP1: Market & Technology Landscape – mapping state -of -the -art technologies, certification protocols, and relevant IP.
WP2: Conceptual Design & Manufacturing Strategies – developing vessel architectures optimised for thermoplastics, evaluating design variants, and defining production system concepts.
WP3: Performance, Cost & Production Benchmarking – quantifying material usage, recyclability, cycle times, cost per unit, and carbon impact to guide industrial decision -making.

From Knowledge to Competitive Advantage
By actively involving engineers and decision-makers from participating companies, AZL’s Joint Partner Projects combine technical depth with strategic relevance. Participants not only gain access to engineering results and benchmarking data, but also develo p in -house expertise — enabling them to communicate more effectively with customers, suppliers, and investors in the hydrogen and CNG markets.

“AZL’s Joint Partner Projects create trusted spaces for knowledge exchange.” says Philipp Fröhlig, Head of Industrial Services at AZL Aachen GmbH. “Our goal is to enable every participant to make well-founded technical and business decisions for their own product roadmap. Companies, independent of newcomers or established players benefit from collective benchmarking, faster learning by first–hand information, and a shared understanding of what drives efficiency and competitiveness in thermoplastic pressure vessel technologies.”

AZL’s Proven Expertise in Pressure Vessel Technologies
AZL has long been recognised as a leading industrial hub for composite pressure vessels. Previous Joint Partner Projects and R&D programmes have addressed hydrogen and CNG vessel design, filament and towpreg winding, and thermoplastic processing technologies. Within RWTH Aachen University’s ecosystem, AZL combines cutting -edge design, simulation, production and testing infrastructure — covering the full range of technologies for component development, prototyping and developing production systems. This expertise is further amplified through the AZL Partnership Workgroup “Composite Pipes & Vessels”, a dedicated platform for continuous collaboration, knowledge exchange, and networking across the global composites industry. The new project builds on this foundation, offering participants both short- term insights and long -term strategic connections.

Join the Consortium and Shape the Future
The next report meeting on 5 November 2025 will provide an update on concept benchmarking and early design results. Companies interested in hydrogen and CNG storage technologies are invited to join the consortium, gain access to the project findings, and collaborate directly on defining the next generation of thermoplastic vessel concepts. In addition to this Joint Partner Project, AZL offers individual R&D support, benchmarking studies, and strategic guidance for companies developing lightweight composite pressure vessels and related components.

Girbau, a global leader in industrial laundry solutions, marked a key milestone this week: the official inauguration of its new production plant in Oshkosh (Wisconsin, USA), coinciding with the celebration of its 105th anniversary. Both events reinforce Girbau’s commitment to strengthening its presence in the North American market and to continuing its sustainable and customer-focused growth.

The inaugural event, held on October 29, was attended by representatives from local Wisconsin and Oshkosh authorities, ACCIÓ (the Agency for Business Competitiveness of the Government of Catalonia), and members of the Girbau and Continental Laundry Solutions teams. The day included guided tours of the facilities, institutional speeches highlighting the importance of this new factory as a symbol of international collaboration, local job creation, and commitment to industrial sustainability, as well as the traditional ribbon-cutting ceremony. The project was developed with the support and collaboration of ACCIÓ.

During the same week, the Girbau team celebrated its 105th anniversary together with the Continental Laundry Solutions team, as well as members of the Board of Directors and the Management Committee who traveled from Spain for the occasion. The event served to commemorate more than a century of innovation, commitment, and family spirit that have defined Girbau since its founding in 1920.

The new plant, with a current production capacity of 3,000 machines per year, has been designed to meet the specific needs of the U.S. market. Its production is exclusively destined for the local market, reinforcing the company’s strategy of proximity and service, and contributing to greater operational efficiency, faster delivery times, and a reduction in the logistical footprint. 

“This new plant symbolizes Girbau’s constant evolution: a company with more than a century of history that continues to look to the future with the same passion and commitment to our
customers and the planet,” said Mercè Girbau, President and CEO of Girbau. “The United States is a strategic market for us, and this inauguration reaffirms our intention to continue growing sustainably and collaboratively alongside our local partners.”

Suominen has appointed Francois Guetat, M.Eng., as Chief Operating Officer, and member of Suominen Leadership Team effective November 3, 2025.

Francois Guetat brings over two decades of global experience in operations, supply chain, and manufacturing excellence. Most recently, he served as SVP of Integrated Supply Chain at Kalmar, where he led business across sourcing, manufacturing, logistics and strategy. His leadership has been shaped by 22 years at Volvo, where he held key roles in Sweden, USA, and Poland.

“I’m pleased to welcome Francois to our team. He has consistently driven results through transformational programs, systematic continuous improvement deployment, strong commitment to total quality, safety and sustainability, and great people leadership skills”, says Charles Héaulmé, President and CEO of Suominen.

Suominen’s Chief Operating Officer Darryl Fournier has decided to leave the company to pursue other professional endeavors. He will continue with Suominen until end of January 2026, focusing on strategic projects.

“I want to thank Darryl for his dedication and commitment to Suominen and wish him all the best going forward”, says Charles Héaulmé.

Founded in 1970, Iluna Group has been synonymous with excellence, savoir-faire, creativity, and responsible innovation in the world of lace. A pioneer in interpreting lace as a language of contemporary beauty, Iluna has been accompanying women for decades through the many moments of their lives — from precious lingerie to sophisticated fashion, from sportswear to beachwear — offering solutions that combine research, aesthetics, elegance, and comfort.

A pioneer company in the field of sustainability and a promoter of continuous research for low-impact environmental solutions and maximum respect for the planet, since 2018 Iluna Group has been GRS certified for its sustainable Green Label range. A collection that proposes a new responsible approach towards the environment and people, combining innovation, aesthetics, and quality at 360°. From the polymer to the finished lace, Iluna is able to guarantee full control and total traceability of the entire production chain, measuring the company’s sustainability growth through the Higgs Index. 

Iluna Group presented at MarediModa the natural evolution of this vision with laces that go beyond the traditional concept of beachwear: technical, refined, sustainable, and surprising laces that, like a fluid material, caressing the skin celebrating body freedom and conveying effortless elegance. The collection ranges from stretch laces made with ROICA™ EF premium stretch fiber — featuring recycled content of up to 80% — to customizable GRS-certified Lurex nets with prints and flocking, up to materials made with 99% recycled yarns, and recycled polyamides like Qnova™ and Renycle™ marking a new generation of responsible beachwear.
Among the highlights, Iluna introduces:

• Customizable and luminous GRS-certified Lurex mesh fabrics 
• Exclusive certified printing and flocking finishes
• Sustainable fibers such as organic cotton, FSC-certified spun-dyed viscose, recycled polyamides like Qnova™ and Renycle™, and the premium stretch fiber ROICA™ EF, part of the ROICA Eco-Smart family™.

Materials that embody the new face of beachwear: elegant yet low-impact, merging aesthetics, innovation, and respect for the planet. The result is a sea to wear, made of light, sensual, and high-performing textures that express allure in every gesture and freedom in every wave.

The Uster 360Q universe is growing with new products, solutions and services. Innovation developments can also be recorded in the fields of man-made fiber testing and fabric inspection. Uster innovations address the industry’s trending topics as mill management and process control, optimization of delivered fabric quality and yield.

The simplicity of fabric quality control
Uster presents at ITMA Asia + CITME 2025 the brand-new Uster Fabriq Vision 2. The next generation fabric inspection system stands for reliable performance – also in challenging environments – and shows enhanced detection capabilities. Both advantages result from the Smart Vision Camera 3 for high-performance in-camera image processing. Uster’s real-time process monitoring and quality inspection solution further convinces by simplified operation through Uster Intelligence-supported style creations as well as by image-based and supported visual setting adjustment for easier adaption. 

Fabric producers need to ensure a consistently high rate of defect detection by automated control during final inspection. Uster Fabriq Vision 2 offers advanced process safety through the Super Inspection Mode for increased security, even after production, and consistent Uster Intelligence-supported quality decisions. The system’s ability finally allows fabric yield to be optimized and prevents claims – quickly set up and easy handled when fine tuning.

Fiber process control for cotton, synthetics and blends
Uster AFIS 6 has been launched earlier this year but will be presented at ITMA Asia + CITME in Singapore first time to an audience in Asia. The next-generation AFIS stands out by uniquely testing man-made fiber properties in addition to cotton in the same unit. It provides critical data to optimize fiber process control in spinning, paving the way for superior yarn quality and reduced waste.

AFIS 6 can be seamlessly integrated in the mills quality management regime by connecting to Uster Quality Expert and the integration of the Uster Statistics. The enhanced user experience result from the new user interface and its various languages available is a key highlight. Another plus is simplified data analysis through the integral reporting functionality. 

Presented for the first time two years ago at ITMA in Milan, Uster 360Q has attracted considerable interest, and FiberQ has proven itself in practice as a raw material management solution with profit potential. Under 360Q Uster developed a further solution and tools.

Uster Fiber2Yarn for the great picture
Newly combining and correlating data of FiberQ – measured with Uster HVI – with data from Uster Quantum yarn clearers, spinners can learn about the influence of different raw material parameters on the end product quality. This highly sought-after information offers a great opportunity to optimize mixings and continuously achieve a higher level of quality consistency besides better control of the production process. The Uster Fiber2Yarn solution is available in two different views, like the correlations over time and the correlations over different mixings.

A wide range of valuable features and information can be found on the Uster 360Q Platform. Uster services are hosted on the cloud-based platform with a technology architecture that makes businesses more agile and cost-effective. Additionally, the cloud solutions enable businesses to leverage AI and machine learning capabilities. The integration of Uster Intelligence – combining artificial intelligence with Uster’s expertise – is opening up new possibilities for spinners. Additional benefits include further advancements in the Uster Academy, such as the introduction of the Uster Chatbot and Wiki, providing direct and easy access to Uster know-how. The Academy’s e-learning portfolio has been expanded to serve a broader range of users.

Furthermore, the platform serves as a central access point for notifications and alerts. The Uster 360Q Platform is also where users – free of charge and with no license needed – find Uster news and the latest application literature. Also, the content provided earlier via the Uster Insights App will be integrated into the platform. And of course, the new Uster Statistics web app is part with all well-known functionality in a new format. 

Naia™’s fourth consecutive ‘Dark Green Shirt’ recognition and the release of its 2025 Sustainability Progress Report and 2025–2030 goals together highlight continued progress in responsible sourcing and transparency. 

At the Textile Exchange Conference in Lisbon, Eastman Naia™ was honored with its fourth consecutive “Dark Green Shirt” in Canopy’s Hot Button Report, an annual ranking of man-made cellulosic fiber producers based on forest conservation, sourcing risk, and supply chain transparency. The recognition confirms Naia™’s ongoing leadership in responsible sourcing and environmental stewardship, distinguishing it as one of the industry’s most trusted fiber platforms. 

The award coincides with the launch of Naia™’s 2025 Sustainability Progress Report and the unveiling of its updated 2030 sustainability goals, which target climate mitigation, circularity at scale, and social impact. Together, these milestones reinforce Naia™’s long-term strategy to deliver measurable, transparent progress across the value chain and to help reshape the materials economy for good. 

At the conference, Naia™ also spotlighted the versatility of its fiber portfolio across performance, fashion, and circular applications. Naia™ On the Move supports light sports and urbanwear needs with high-performing Naia™ Renew staple fiber. Naia™ Denim blends comfort with circularity for authentic and fashion denim, while the new Naia™ GlowNow campaign reintroduces its signature filament yarn for low-impact women’s fashion. All Naia™ fibers are sourced from sustainably managed forests and, when produced with Naia™ Renew, contain 40% GRS-certified recycled content via Eastman’s molecular recycling technology.