Operator

Ladies and gentlemen, welcome to the Lenzing AG Results First Quarter 2026 Conference Call and Live Webcast. I'm Sergen, the Chorus Call operator. [Operator Instructions] and the conference is being recorded. [Operator Instructions] The conference must not be recorded for publication or broadcast.

At this time, it's my pleasure to hand over to Mathias Breuer, CFO. Please go ahead, sir.

Mathias Breuer
CFO & Member of Management Board

Yes, perfect. So good afternoon, everyone, and thank you for handing over to me, and thanks to everyone for joining our call today. Today, we're going to walk together through Lenzing's result for the first quarter of 2026.

Just a brief look into the agenda. I will start with the key highlights, followed by an update on the market environment as always and then I will take you through the financials in more detail, including the EBITDA, the cash flow, the working capital and our balance sheet position. And finally, we will end with our current view on the outlook before we move to the Q&A session.

Let me start with the key highlights of the first quarter 2026. As we also discussed in March this year, the year began in a very challenging geopolitical and macroeconomic environment, in particular the escalation in the Middle East, which has increased the uncertainty across energy, chemicals, logistics and finally also consumer markets.

Against this backdrop, we delivered a revenue of EUR 616 million, which is an 11% decline year-on-year