MIRA INFORM REPORT

Report No. :	338122
Report Date :	05.09.2015

IDENTIFICATION DETAILS

Name :	LENZING AKTIENGESELLSCHAFT
Registered Office :	Werkstraße 2 A-4860 Lenzing
Country :	Austria
Financials (as on) :	31.12.2014
Date of Incorporation :	31.05.1938
Legal Form :	Joint Stock Company
Line of Business :	Manufacture of man-made fibres Activities of holding companies Manufacture of other inorganic basic chemicals
No. of Employees :	2000 (Approx.)

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Austria	A2	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

AUSTRIA - ECONOMIC OVERVIEW

Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a relatively sound industrial sector, and a small, but highly developed agricultural sector. Economic growth was anemic at less than 0.5% in 2013 and 2014, and growth in 2015 is not expected to exceed 0.5%. Austria’s 5.6% unemployment rate, while low by European standards, is at an historic high for Austria. Without extensive vocational training programs and generous early retirement, the unemployment rate would be even higher. Public finances have not stabilized even after a 2012 austerity package of expenditure cuts and new revenues. On the contrary, in 2014, the government created a “bad bank” for the troubled nationalized “Hypo Alpe Adria” bank, pushing the budget deficit up by 0.9% of GDP to 2.4% and public debt to 84.5% of the GDP. Although Austria's fiscal position compares favorably with other euro-zone countries, it faces several external risks, such as Austrian banks' continued exposure to Central and Eastern Europe, repercussions from the Hypo Alpe Adria bank collapse, political and economic uncertainties caused by the European sovereign debt crisis, the current crisis in Russia/Ukraine, the recent appreciation of the Swiss Franc, and political developments in Hungary.

Source : CIA

Company name and address

LENZING AKTIENGESELLSCHAFT

Werkstraße 2

A-4860 Lenzing

Phone:	(0043) 7672 701
Fax:	(0043) 7672 701 - 3880
E-mail:	office@lenzing.com
Internet:	http://www.lenzing.com

Status:	active company
Companies house number:	FN 96499 k

Activities

ÖNACE 20600 80% Manufacture of man-made fibres

ÖNACE 64200 10% Activities of holding companies

ÖNACE 20130 10% Manufacture of other inorganic basic chemicals

Financial data

Financial details can also be entered during the period, irrespective of the balance sheet date.

total turnover (total sales)	2014	EUR	729.033.901,61	(exact)
total turnover (total sales)	2013	EUR	746.356.750,57	(exact)
total turnover (total sales)	2012	EUR	766.128.273,46	(exact)
total turnover (total sales)	2011	EUR	839.523.861,46	(exact)
total turnover (total sales)	2010	EUR	698.717.928,78	(exact)

turnover (sales) - group	2014	EUR	1.864.222.000,00	(exact)
turnover (sales) - group	2013	EUR	1.908.869.000,00	(exact)
turnover (sales) - group	2012	EUR	2.090.403.000,00	(exact)
turnover (sales) - group	2011	EUR	2.140.032.000,00	(exact)
turnover (sales) - group	2010	EUR	1.766.323.000,00	(exact)

total stock

2015

EUR

76.000.000,00

(approx.)

total investments

2014

EUR

231.208.803,43

(exact)

total employees

2015

2000

(approx.)

General company information

Company name

Lenzing Aktiengesellschaft

Year of incorporation

1938

Type of company

Manufacturing

Legal form

joint stock company since 1938-05-31

Trade names

Lenzing FR

Trade names

Lenzing Modal

Trade names

Lenzing Viscose

Trade names

MicroModal

Trade names

Tencel

Companies house number

FN 96499 k Wels since 1938-07-07

Export

world-wide

2015

ARA-number

2294

VAT number

ATU 23468003

number - Austrian National Bank

6840

Last balance sheet:

2014

Banking connection

UniCredit Bank Austria AG	BLZ 12000	main bank connection
Oberbank AG	BLZ 15000	secondary banking connection

Locations

operational	A-4860 Lenzing, Werkstraße 2	registered office
operational	A-4860 Lenzing, Werkstraße 2	registered headquarters, owned property
	0043 7672 701	office@lenzing.com
operational	IND-641 018 Coimbatore, 70, Race Course 1st Floor, Rajnarayan Towers	office
operational	CDN-DN31 2ZT Grimsby, PO Box 462	office
operational	A-1090 Wien, Kolingasse 1	office, rented premises
	0043 1 3193140

Private data

Surname	Date of birth	Address	Executive positions	Further executive positions (as registered in the companies' house)
Dipl-Ing.Dr. Dieter Eichinger	1958-06-11	A-8280 Fürstenfeld Übersbach 208	joint signing clerk	1
Dipl-Ing.Dr. Wilhelm Feilmair	1962-05-19	A-4863 Seewalchen Attersee Lachwerwiese 30	joint signing clerk	1
Dipl-Ing. Herbert Grill		A-4802 Ebensee Offenseestraße 21a	joint signing clerk	0
Stephanie Kniep	1966-07-15	A-4860 Lenzing Werkstraße 2	joint signing clerk	0
Dr. Nikolaus König	1969-09-25	A-5020 Salzburg Wilhelm Backhausweg 9	joint signing clerk	4
Dipl-Ing. Wolfgang Plasser	1966-08-20	A-4840 Vöcklabruck Oberstadtgries 5	joint signing clerk	0
Mag. Christof Pöltner	1964-02-17	A-4860 Lenzing (OÖ) p.A. Werkstraße 2	joint signing clerk	0
Dr. Otto Ramsenthaler	1959-04-07	A-4851 Gampern Nr. 148	joint signing clerk	0
Dipl-Ing. Gottfried Paul Rosenauer	1962-04-12	A-4865 Nußdorf Attersee Dorfstraße 53	joint signing clerk	2
Johann Ruess	1964-01-20	A-9871 Seeboden Am Waldrand 21	joint signing clerk	0
Dipl-Ing. Marco Schlimpert	1974-03-30	A-4860 Lenzing Werkstraße 2	joint signing clerk	0
Johann Peter Viehböck	1966-11-08	A-4864 Attersee Schloßberg 3	joint signing clerk	0
Mag. Florian Wirth	1973-03-03	A-4860 Lenzing Werkstraße 2	joint signing clerk	0
Dr. Stefan Doboczky	1967-06-19	A-4860 Lenzing Werkstraße 2(c/o)	chairman of the executive board	0
MBA. Robert van de Kerkhof	1964-02-25	A-4860 Lenzing (OÖ) Werkstraße 2	member of the executive board	0
Dr. Thomas Riegler	1969-05-23	A-4860 Lenzing Werkstraße 2	member of the executive board	4
Dr. Hanno Bästlein	1963-04-19	A-1180 Wien Cottagegasse 8	chairman of the supervisory board	9
Dr. Veit Sorger	1942-06-10	A-1130 Wien Wattmanngasse 16	deputy chairman of the supervisory board	16
Dr. Felix Strohbichler	1974-05-27	A-1010 Wien Universitätsring 14	deputy chairman of the supervisory board	22
Rudolf Baldinger	1954-10-11	A-4860 Lenzing Hauptstraße 9	member of the supervisory board	1
Franz Berlanda	1961-03-01	A-4860 Lenzing (OÖ) Werkstraße 2	member of the supervisory board	0
Mag. Helmut Bernkopf	1967-05-10	A-1010 Wien Schottengasse 6-8	member of the supervisory board	6
Ing. Daniela Födinger	1964-11-22	A-4860 Lenzing (OÖ) Werkstraße 2	member of the supervisory board	0
Konsul, KR, MBA, Dr. Gen.Dir. Franz Gasselsberger	1959-04-12	A-4111 Walding Überlendnerstraße 23	member of the supervisory board	6
Dr. Josef Krenner	1952-06-15	A-4021 Linz Klostergasse 7	member of the supervisory board	2
	Landesbediensteter
Georg Liftinger	1961-01-26	A-4852 Weyregg Attersee Bach 18	member of the supervisory board	0
Mag. Patrick Prügger	1975-08-08	A-1010 Wien Universitätsring 14	member of the supervisory board	26
Johann Schernberger	1964-01-06	A-4844 Regau Dornet 5	member of the supervisory board	0
Mag. Andreas Schmidradner	1961-04-18	A-1010 Wien Universitätsring 14	member of the supervisory board	4
Dr. Astrid Skala-Kuhmann	1953-09-07	D-82057 Icking Deutschland Zellerweg 25b	member of the supervisory board	1
Andreas Dorner		A-4860 Lenzing Werkstraße 2(c/o)	head of marketing	0
Dipl-Ing. Werner Arnitz		A-4860 Lenzing Werkstraße 2(c/o)	head of EDP	0

related companies

Company name	Address	Shareholdings in %	Since	Commercial register no.
Shares in this company are held by:
B & C Lenzing Holding GmbH	A-1010 Wien Universitätsring 14	50 %		FN 256666 a
B & C Industrieholding GmbH	A-1010 Wien Universitätsring 14	10 %		FN 215332 s
B & C Iota GmbH & Co KG	A-1010 Wien Universitätsring 14	7,57 %		FN 353486 h
Oberbank AG	A-4020 Linz Untere Donaulände 28	5,22 %		FN 79063 w
This company holds 100% of the shares in:
Lenzing Fibers Holding GmbH	A-4860 Lenzing Werkstraße 2	100 %	2005-09-08	FN 243282 v
Pulp Trading GmbH	A-4860 Lenzing Werkstraße	100 %	1988-07-28	FN 107873 m
This company holds 50% to 99% of the shares in:
Gemeinnützige Siedlungsgesellschaft m.b.H. für den Bezirk Vöcklabruck	A-4860 Lenzing Atterseestraße 21	99,87 %	1994-05-04	FN 94451 z
BZL - Bildungszentrum Lenzing GmbH	A-4860 Lenzing Werkstraße 2	75 %	1997-12-19	FN 165899 w
RVL Reststoffverwertung Lenzing GmbH	A-4860 Lenzing Lenzing AG - Werksgelände	50 %	1994-04-01	FN 84067 d
This company holds less than 50% of the shares in:
Lenzing Papier GmbH	A-4860 Lenzing Werkstraße 2	40 %	2008-03-01	FN 306805 i
WWE Wohn- und Wirtschaftspark Entwicklungsgesellschaft m.b.H.	A-3100 St. Pölten Julius Raab Promenade 27/30	25 %	1994-07-06	FN 84192 m
Lenzing Fibers GmbH	A-7561 Heiligenkreuz Lafnitztal Industriegelände 1	0,02 %	1996-09-24	FN 129218 b
Affiliated companies and further participations:
AL International L P	USA-02048 Mansfield 777 West St
Lenzing Technik GmbH	A-4860 Lenzing Werkstraße 2			FN 185129 z
Melecs EWL GmbH	A-4860 Lenzing Photo Playstraße 1			FN 196636 x
Lenzing Holding GmbH	A-4860 Lenzing Werkstraße 2			FN 243281 t
Lenzing Beteiligungs GmbH	A-4860 Lenzing Werkstraße 2			FN 253324 k
LP Automotive GmbH	A-4860 Lenzing Werkstraße 2			FN 294350 v

Balance Sheet (absolute) all amounts in EUR

	2014-12-31
Goodwill	578.830,14
Franchises, patents, licences, trademarks and similar rights and advantages	1.200.064,49
Sum intangible assets	1.778.894,63
Land and leasehold rights with buildings thereon including building on land owned by third parties	124.256.339,33
Other operating and business equipment	12.560.568,73
Technical plants and machines	373.409.874,88
Advanced payments and constructions in progress	13.721.195,46
Sum tangible assets	523.947.978,40
Shares on related firms	254.812.115,90
Other shareholdings	5.110.143,91
Loans to related firms	96.055.721,09
Other loans	2.349.796,04
Other financial assets, values and securities of fixed assets	18.627.672,44
Sum financial assets	376.955.449,38
Sum fixed assets	902.682.322,41
Raw-, auxiliary materials and supplies	40.184.069,19
Unfinished products	332.459,25
Finished products	35.993.544,47
Advanced payments	57.921,78
Sum stock	76.567.994,69
Claims from delivered goods and performed services	31.302.817,02
Claims against companies with shareholding relationship	4.890.890,81
Claims against related firmes Claims against companies with shareholding relationship	98.197.784,56
Other claims and assets	38.903.979,61
Sum claims	173.295.472,00
Cash on hand, cheques and bank deposits	142.381.811,08
Sum cash and bank	142.381.811,08
Sum current assets	392.245.277,77
Deferred charges	1.836.904,30
Sum deferred charges	1.836.904,30
Assets	1.296.764.504,48
Subscribed/declared capital	27.574.071,43
Committed capital reserves	138.642.770,74
Free reserves	380.440.666,66
Balance sheet profit/balance sheet loss	26.550.000,00
Thereof profit/loss carried forward	104.754.455,03
Sum equity capital	573.207.508,83
Valuation reserves and other reserves before taxes	16.076.096,07
Sum reserves before taxes	16.076.096,07
Subsidies and contributions	7.351.604,67
Sum floor capital	7.351.604,67
Reserves for severance pays	56.441.673,38
Reserves for pensions	29.156.314,13
Tax reserves	4.753.114,94
Other reserves	63.991.623,84
Sum reserves	154.342.726,29
Loans (including convertible loans)	120.000.000,00
Liabilities against credit institutes	65.104.499,02
Received advanced payments for orders	766.092,25
Liabilities from delivered goods and performed services	45.960.159,32
Liabilities against related firms	44.929.424,17
Other liabilities	29.280.477,54
Other loans	213.500.000,00
Special account liabilities	26.049.078,27
Sum liabilities	545.589.730,57
Deferred income	196.838,05
Sum deferred income	196.838,05
Liabilities	1.296.764.504,48
Contingent liabilities	178.898.225,18
Balance sheet sum	1.296.764.504,48

P / L Account (absolute) all amounts in EUR

	2014-12-31
Gross sales	729.033.901,61
Increase or decrease in finished and unfinished goods and in service claims	9.530.403,70
Other manufacturing costs capitalized	13.570.486,54
Total turnover or gross profit	752.134.791,85
Profits from retirement of fixed assets, except financial assets	7.756,33
Income from dissolution of reserves	6.534.263,60
Other operating profits	44.269.156,20
Other operating profits totally	50.811.176,13
Costs for obtained services	-61.772.991,78
Material costs	-339.698.996,23
Costs for obtained services totally	-401.471.988,01
Wages	-63.415.720,06
Salaries	-62.724.194,45
Costs for severance pays	-7.557.902,40
Costs for old age pension	-5.139.757,17
Legal fringe benefits and other payments depending on salaries	-33.078.314,10
Other social fringe benefits	-2.351.044,91
Personnel expenses totally	-174.266.933,09
Depreciation of intangible assets, tangible assets,activated expenses for the set up and expansion of business operation	-53.192.629,16
Depreciation tangible assets / intangible assets totally	-53.192.629,16
Other operating costs	-109.086.078,67
Other taxes	-148.713,78
Total costs	-109.234.792,45
Operating result totally	64.779.625,27
Profits from shareholdings	344.985,80
Income from other securities and loans of financial assets	2.918.199,26
Interest income, securties income and similar income	1.339.518,09
Profits from the retirement of and investment in financial assets	3.744.457,57
Interest and similar disbursements	-13.532.363,00
Financial expenses	-760.527,83
Financial profits totally	-5.945.730,11
Results from usual business activity totally	58.833.895,16
Taxes on income and profits	-14.360.225,82
Taxes on income and profits totally	-14.360.225,82
Annual surplus/annual deficit totally	44.473.669,34
Dissolution reserves before taxes	315.854,47
Transfer to profit reserves	-122.993.978,84
Reserves movements totally	-122.678.124,37
Annual profit/annual loss totally	-78.204.455,03
Profit and loss carried forward from previous year	104.754.455,03
Transfer of profits totally	104.754.455,03
B/S profit/ B/S loss from profit and loss account	26.550.000,00

Key ratios

	2014
Cashflow II	97.666.298,50
Debt amortisation period in years	5,70
Bank indebtedness	21,48
Equity capital share in %	46,03
Social capital share	6,60
Fixed assets coverage	75,57
Net profit ratio	7,82
Capital turnover	0,58
Return on investment in %	5,58
Cashflow in % of operating performance	12,98
Cashflow I	112.026.524,32
Gross productivity	4,31
Net productivity	2,01
Operating performance	752.134.791,85
Inventories in % of operating performance	10,18
Gross profit	350.662.803,84

Land Register

Last check

2015-03-25

Entry number	Cadastral community	Journal number
167	Lenzing O 50313	2965/2013

Section A – type of property:

GST-NR G BA (NUTZUNG) FLÄCHE GST-ADRESSE
KATASTRALGEMEINDE: 50313 Lenzing
790 Landw(10) * 909
791/1 GST-Fläche * 3440
Landw(10) 177
Wald(10) 3263
801/1 GST-Fläche 5847
Landw(10) 998
Sonst(50) 4849
1026 Landw(10) * 873
1027 GST-Fläche 7444
Landw(10) 3573
Sonst(50) 3871
1028 GST-Fläche 3336
Bauf.(10) 104
Sonst(50) 3232 Pichlwanger Straße 8
1048 Landw(10) * 859
1052 Landw(10) * 3501
1077 GST-Fläche * 1320
Bauf.(10) 11
Landw(10) 1309
1082 GST-Fläche * 1674
Bauf.(10) 978
Sonst(50) 696
1083 GST-Fläche * 4101
Bauf.(10) 3038
Sonst(50) 1063
1084 GST-Fläche * 2813
Bauf.(10) 577
Sonst(50) 2236
1089 GST-Fläche 13932
Bauf.(10) 3602
Sonst(50) 10330 Bundesstraße 5a
1093 Sonst(50) 168
1094 GST-Fläche 168
Bauf.(10) 118
Sonst(50) 50
1095 Bauf.(10) 168
1096 Bauf.(10) 168
1097 Bauf.(10) 167
1098 Bauf.(10) 168 Bundesstraße 5a
1099 GST-Fläche 194
Bauf.(10) 109
Sonst(50) 85
1100 Sonst(50) 168
1101 GST-Fläche 1207
Bauf.(10) 473
Sonst(50) 734 Bundesstraße 5a
1102 Sonst(50) 168
1103 Sonst(50) 193
1104 Sonst(50) 194
1105 Sonst(50) 194
1106 Sonst(50) 168
1107 Sonst(50) 168
1108 Sonst(50) 168
1109 Sonst(50) 194
1113/1 G Sonst(20) * 1347
1113/3 G Sonst(10) * 1412
1115/1 GST-Fläche 36376
Bauf.(10) 2116
Sonst(50) 34260 Bundesstraße 9
Bundesstraße 5a
1116 GST-Fläche 6862
Bauf.(10) 42
Sonst(50) 6820
1117 GST-Fläche 1933
Bauf.(10) 1280
Sonst(50) 653
1118 Sonst(50) 5292
1119 Sonst(50) 57217
1120 GST-Fläche 38472
Bauf.(10) 904
Sonst(50) 37568
1126/1 GST-Fläche 4651
Bauf.(10) 1315
Sonst(50) 3336
1126/3 GST-Fläche 4309
Bauf.(10) 136
Sonst(50) 4173
1127 G Sonst(50) * 88
1142 Sonst(50) 402
1146 Sonst(50) * 15
1199 GST-Fläche 5427
Sonst(10) 5002
Sonst(50) 425
1200 Sonst(50) 2129
1201/1 GST-Fläche 156063
Bauf.(10) 46036
Sonst(10) 7468
Sonst(50) 102559
1201/3 G Sonst(10) * 300
1202 Bauf.(10) 1767 Werkstraße 2
1203 Bauf.(10) 1122
1204 Sonst(50) 320
1205 Bauf.(10) 3074 Werkstraße 4
1206 Bauf.(10) * 166
1207 GST-Fläche 648
Bauf.(10) 430
Sonst(50) 218
1208 GST-Fläche 767
Bauf.(10) 340
Sonst(50) 427
1209 Bauf.(10) 3444
1210 Bauf.(10) 215
1211 Bauf.(10) 298
1212 Bauf.(10) 1681
1213 GST-Fläche 4348
Bauf.(10) 973
Sonst(50) 3375
1214 GST-Fläche 6459
Bauf.(10) 6066
Sonst(50) 393
1215 GST-Fläche 12763
Bauf.(10) 12549
Sonst(50) 214
1216 Bauf.(10) 912
1217 Bauf.(10) * 1178
1218 Bauf.(10) 6831
1220 Bauf.(10) 69
1221 Bauf.(10) 1084
1222 Bauf.(10) 1820
1224 Bauf.(10) 1592
1225 GST-Fläche 528
Bauf.(10) 26
Sonst(50) 502
1226 GST-Fläche 405
Bauf.(10) 285
Sonst(50) 120
1227 Bauf.(10) 305
1228 Bauf.(10) 121
1229 GST-Fläche 311
Bauf.(10) 309
Sonst(50) 2
1230 Bauf.(10) 326
1231 Bauf.(10) 113
1232 Bauf.(10) 535
1233 Bauf.(10) 45
1234 Sonst(50) 53
1235 Bauf.(10) 61
1239 Bauf.(10) 1612
1242 Bauf.(10) 393
KATASTRALGEMEINDE: 50316 Pichlwang
1598 Landw(10) 4774
1606 Landw(10) 1270
1979/1 G Landw(10) * 6305
GESAMTFLÄCHE 444082
Legende:
Bauf.(10): Bauflächen (Gebäude)
Landw(10): landwirtschaftlich genutzte Grundflächen (Äcker, Wiesen oder Weiden)
Sonst(10): Sonstige (Straßenverkehrsanlagen)
Sonst(20): Sonstige (Schienenverkehrsanlagen)
Sonst(50): Sonstige (Betriebsflächen)
Wald(10): Wald (Wälder)
5 a 341/1987 Zuschreibung Gst 1027 aus EZ 191 und 1026 aus EZ 34 je GB
Pichlwang
11 a 5211/1993 Tauschvertrag 1991-04-10 Zuschreibung Gst 1979/1 KG Pichlwang
aus EZ 101 KG Pichlwang
12 a 2075/1935 Grunddienstbarkeit des Geh- und Fahrtrechtes an Gst 1979/2 in
EZ 264 für Gst 1979/1
b 5211/1993 Übertragung der vorangehenden Eintragung(en) aus EZ 101 KG
Pichlwang
20 a 4402/1999 Tauschvertrag 1999-03-02 Zuschreibung Gst 801/1 aus EZ 86
21 a 921/1972 Geh- und Fahrtrecht für Gst 801/1 an EZ 9
26 c gelöscht

Section B – ownership structure:

1 ANTEIL: 1/1
Lenzing Aktiengesellschaft (FN 96499k)
ADR: Werkstr. 2, Lenzing 4860
a 1419/1938 Kaufvertrag 1938-06-29 Eigentumsrecht
b 1011/1960 Übertragung der vorangehenden Eintragung(en) aus EZ 279 GB
Pichlwang
c 3604/1984 Namensänderung
d gelöscht

Section C – encumbrances:

1 a 430/1917
DIENSTBARKEIT der Kraftleitung hins Gst 1606 GB Pichlwang
für Elektrizitätswerke Stern & Hafferl Aktiengesellschaft
b 1011/1960 Übertragung der vorangehenden Eintragung(en) aus
EZ 279 GB Pichlwang
3 a 1892/1949 6223/2011
DIENSTBARKEIT des Gehens und Fahrens gem Par 3 Vertrag
1949-12-01 hins Gst 1199 1201/1 1201/3 für EZ 194
b 1011/1960 Übertragung der vorangehenden Eintragung(en) aus
EZ 279 GB Pichlwang
4 a 19/1880
DIENSTBARKEIT des Fahrens hins Gst 1052 für Gst 1069 EZ 994
b 1011/1960 Übertragung der vorangehenden Eintragung(en) aus
EZ 41 GB Pichlwang
5 a 2732/1956
DIENSTBARKEIT der elektrischen Hochspannungsleitung gem Pkt
1 2 Dienstbarkeitsvertrag 1953-03-27 hins Gst 1089 1115/1
1120 1119 1126/1 1126/2 1126/3 für Oberösterreichische
Kraftwerke Aktiengesellschaft
b 1011/1960 Übertragung der vorangehenden Eintragung(en) aus
EZ 41 GB Pichlwang
6 a 3067/1956
DIENSTBARKEIT der elektrischen Hochspannungsleitung gem Pkt
1 2 Dienstbarkeitsvertrag 1956-10-10 hins Gst 1077 1052 für
Oberösterreichische Kraftwerke Aktiengesellschaft
b 1011/1960 Übertragung der vorangehenden Eintragung(en) aus
EZ 41 GB Pichlwang
9 a 4510/1963
DIENSTBARKEIT der elektrischen Hochspannungsleitung gem Pkt
II - IV Dienstbarkeitsvertrag 1963-11-19 hins Gst 1126/1
1126/2 1126/3 1606 GB Pichlwang für Oberösterreichische
Kraftwerke Aktiengesellschaft
11 a 3168/1965
DIENSTBARKEIT der elektrischen Hochspannungsleitung gem Pkt
II - IV Dienstbarkeitsvertrag 1965-08-30 hins Gst 1077 1052
für Oberösterreichische Kraftwerke Aktiengesellschaft
13 a 2119/1984 Pfandurkunde 1984-05-08
PFANDRECHT Höchstbetrag 72.000.000,--
für Creditanstalt-Bankverein
b 1409/1986 Löschungsverpflichtung zugunsten LNr 14
c 5768/1993 Löschungsverpflichtung zugunsten LNr 20
d 5023/1996 Löschungsverpflichtung zugunsten LNr 21
14 a 1409/1986 Pfandurkunde 1986-04-03
PFANDRECHT Höchstbetrag 16.800.000,--
für Creditanstalt-Bankverein
b 5023/1996 Löschungsverpflichtung zugunsten LNr 21
15 a 70/1959 993/1960
DIENSTBARKEIT der elektrischen Hochspannungsleitung gem Pkt
1 2 Dienstbarkeitsvertrag 1955-10-24 hins Gst 1027 für
Oberösterreichische Kraftwerke Aktiengesellschaft
b 341/1987 Übertragung der vorangehenden Eintragung(en) aus EZ
191 GB Pichlwang
16 a 338/1989
DIENSTBARKEIT der Duldung der Versorgungseinrichtungen
gem § 2 Dienstbarkeitsvertrag 1988-07-25 bzw. Nachtrag
1989-01-03 auf Gst 1115/1 1118 1119 1201/1 1205 1215
für Gst 1057 1058 1059 1069 1070 1071 1072 1073 EZ 994
und Gst 1065/2 EZ 1120
17 a 671/1990
DIENSTBARKEIT der 30 kV-Kabelleitung über Gst 1077
gem Pkt 1 2 Dienstbarkeitsvertrag 1989-12-22 samt Plan
für Oberösterreichische Kraftwerke AG
18 a 5211/1993
DIENSTBARKEIT der elektrischen Hochspannungsleitung gem Pkt
II - IV Dienstbarkeitsvertrag 1984-11-28 hins Gst 1979/1
für Oberösterreichische Kraftwerke Aktiengesellschaft
b 5211/1993 Übertragung der vorangehenden Eintragung(en) aus EZ
101 KG Pichlwang
19 a 5768/1993 Pfandurkunde 1984-04-20
PFANDRECHT Höchstbetrag 90.000.000,--
für Bank Austria Aktiengesellschaft
b 5023/1996 Löschungsverpflichtung zugunsten LNr 21
20 a 5768/1993 Pfandurkunde 1984-09-12
PFANDRECHT Höchstbetrag 78.000.000,--
für Bank Austria Aktiengesellschaft im Range nach LNr 19
b 5023/1996 Löschungsverpflichtung zugunsten LNr 21
21 a 5023/1996 Pfandurkunde 1982-09-20
PFANDRECHT Höchstbetrag 60.000.000,--
für Österreichische Investitionskredit Aktiengesellschaft
22 a 4364/2008
DIENSTBARKEIT der Erdgasleitung OGV 208 Lenzing gem Pkt II
III Dienstbarkeitsvertrag 30.05.2008 hins Gst 1089 für
Oberösterreichische Ferngas Aktiengesellschaft
23 a 5107/2009
DIENSTBARKEIT des Gehens und Fahrens gem Pkt IV
Servitutsbestellungsvertrag 20.08.2009 über Gst 1089
für Gst 1088
24 a 2965/2013
DIENSTBARKEIT des 110-kV Umspannwerkes, der 110-kV-
Leitungsanlagen und des Betretens und Befahrens gem Pkt II
Dienstbarkeitsvertrag 2012-06-29 hins Gst 1027 1028 für
Energie AG Oberösterreich, FN 76532y
Energie AG Oberösterreich Netz GmbH, FN 266534m
Eintragungen ohne Währungsbezeichnung sind Beträge in ATS.
Grundbuch 25.03.2015 08:57:21

Commercial register

firm (style)	1 Lenzing Aktiengesellschaft
legal form	1 Aktiengesellschaft
registered office	1 politischer Gemeinde Lenzing
business adress	1 Werkstraße 2 4860 Lenzing (OÖ)
capital	72 EUR 27.574.071,43
reference date annual accounts	1 31. Dezember
annual accounts	82 zum 31.12.2013 eingereicht am 31.07.2014
consolidated accounts	82 zum 31.12.2013 eingereicht am 31.07.2014
power of representation	1 Die Gesellschaft wird, wenn mehrere Vorstandsmitglieder bestellt sind, durch zwei Vorstandsmitglieder gemeinsam oder durch eines von ihnen gemeinsam mit einem Prokuristen vertreten. Der Aufsichtsrat kann einzelnen Vorstandsmitgliedern selbständige Vertretungsbefugnis erteilen.
other provisions	34 Der Vorstand besteht aus ein, zwei, drei oder vier Personen.
board of directors
CZ Robert van de Kerkhof, geb. 25.02.1964 81 Mitglied vertritt seit 01.05.2014 gemeinsam mit einem weiteren Vorstandsmitglied oder einer/einem Prokuristin/Prokuristen DD Dr. Thomas Riegler, geb. 23.05.1969 82 Mitglied vertritt seit 01.06.2014 gemeinsam mit einem weiteren Vorstandsmitglied oder einer/einem Prokuristin/Prokuristen DF Dr. Stefan Doboczky, geb. 19.06.1967 85 Vorsitzende/r vertritt seit 01.06.2015 gemeinsam mit einem weiteren Vorstandsmitglied oder einer/einem Prokuristin/Prokuristen
proxy
Q Dipl.Ing. Herbert Grill, geb. 05.06.1956 1 vertritt seit 09.04.1990 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Gesamtprokuristen BS Dipl.Ing. Gottfried Paul Rosenauer, geb. 12.04.1962 42 vertritt seit 14.07.2004 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CB Dipl.-Ing. Dr. Dieter Eichinger, geb. 11.06.1958 60 vertritt seit 20.08.2008 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CK Wilhelm Feilmair, geb. 19.05.1962 64 vertritt seit 08.07.2009 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CL Dipl.-Ing. Wolfgang Plasser, geb. 20.08.1966 64 vertritt seit 08.07.2009 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CM Johann-Peter Viehböck, geb. 08.11.1966 64 vertritt seit 08.07.2009 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CQ Johann Ruess, geb. 20.01.1964 70 vertritt seit 01.01.2011 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CS Mag. Florian Wirth, geb. 03.03.1973 74 vertritt seit 15.02.2012 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CU Dr. Otto Ramsenthaler, geb. 07.04.1959 76 vertritt seit 01.10.2012 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CV Dipl.-Ing. Marco Schlimpert, geb. 30.03.1974 77 vertritt seit 01.11.2012 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CW Stephanie Kniep, geb. 15.07.1966 77 vertritt seit 01.11.2012 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen CX Mag. Christof Pöltner, geb. 17.02.1964 78 vertritt seit 01.01.2013 gemeinsam mit einem Vorstandsmitglied oder einem weiteren Prokuristen DG Dr. Nikolaus König, geb. 25.09.1969 85 vertritt seit 01.06.2015 gemeinsam mit einem Vorstandsmitglied oder einer/einem weiteren Prokuristin/Prokuristen
supervisory board
AZ Rudolf Baldinger, geb. 11.10.1954 18 Mitglied BK Johann Schernberger, geb. 06.01.1964 31 Mitglied BR Dr. Veit Sorger, geb. 10.06.1942 71 Stellvertreter/in des/der Vorsitzenden CA Mag. Andreas Schmidradner, geb. 18.04.1961 59 Mitglied CE Georg Liftinger, geb. 26.01.1961 62 Mitglied CG Dr. Josef Krenner, geb. 15.06.1952 63 Mitglied CH Mag. Helmut Bernkopf, geb. 10.05.1967 63 Mitglied CR Mag. Patrick Prügger, geb. 08.08.1975 71 Mitglied CT Dr. Astrid Skala-Kuhmann, geb. 07.09.1953 75 Mitglied CY Dr. Franz Gasselsberger, geb. 12.04.1959 79 Mitglied DA Dr. Hanno Bästlein, geb. 19.04.1963 86 Vorsitzende/r DB Ing. Daniela Födinger, geb. 22.11.1964 82 Mitglied DC Franz Berlanda, geb. 01.03.1961 82 Mitglied DE Dr. Felix Strohbichler, geb. 27.05.1974 86 Stellvertreter/in des/der Vorsitzenden
general table

Historical development

Year of incorporation	1938
Date of registration	1938-07-07

Change in share capital

from	to	asset
	1999-08-18	ATS	367.500.000,00
1999-08-18	2011-06-17	EUR	26.717.250,00
2011-06-17		EUR	27.574.071,43

Former executives

from	to	position	name
2004-07-22	2008-01-03	joint signing clerk	Dr. David Andrew Hoyland
2004-10-14	2008-04-19	joint signing clerk	Dipl-Ing. Franz Gstettenhofer
2000-06-08	2008-04-19	joint signing clerk	Heinz Kmonicek
2003-02-04	2008-04-19	joint signing clerk	Mag. Sonja Probst
2000-06-08	2008-05-01	joint signing clerk	Edmund Gehmayr
2008-11-11	2014-08-07	joint signing clerk	Dipl-Ing. Alois Kriechbaumer
2009-07-21	2015-05-12	joint signing clerk	Dr. Klaus Geppert
1998-01-23	2015-05-12	joint signing clerk	Dipl-Ing. Josef Kroiß
2011-08-12	2015-07-25	joint signing clerk	Ingo Patric Thate
	1998-11-13	chairman of the executive board	Dipl-Ing.Dr. Heinrich Stepniczka
2003-03-12	2009-04-17	chairman of the executive board	Dipl-Betriebsw. Thomas Michael Fahnemann
2009-04-17	2015-07-25	chairman of the executive board	Mag.Dr. Peter Untersperger
1994-05-12	1997-08-23	deputy chairman of the executive board	Dr. Josef Zauner
1999-02-25	2002-06-19	deputy chairman of the executive board	Dr. Franz Raninger
1999-02-25	2002-06-19	deputy chairman of the executive board	Dipl-Ing.Dr. Christian Reisinger
	1998-11-13	member of the executive board	Dkfm.Dr. Uwe Franz Peter Skoupy
	1999-02-25	member of the executive board	Dipl-Ing. Leopold Fermüller
1998-05-09	1999-02-25	member of the executive board	Mag. Martin Lenz
	1999-02-25	member of the executive board	Dipl-Ing. Ludwig Promberger
2000-06-08	2009-04-17	joint signing clerk	Dipl-Ing. Friedrich Weninger
2008-01-03	2009-07-21	joint signing clerk	Dipl-Betriebsw. Robert Gregan
2004-07-07	2009-07-21	joint signing clerk	Johann Huber
2000-06-08	2010-09-22	joint signing clerk	Ing. Manfred Schenner
2009-04-17	2011-03-08	joint signing clerk	Andre Edward Beijers
	2011-03-08	joint signing clerk	DDr. Haio Harms
	2011-08-12	joint signing clerk	Ing. Rudolf Reifschneider
1999-02-25	2012-10-02	joint signing clerk	Dipl-Ing. Ernst Lackerbauer
2004-07-22	2012-10-02	joint signing clerk	Michael John Proctor
2009-07-21	2012-11-07	joint signing clerk	Dipl-Betriebsw. Michael Hartig
1997-06-12	2002-06-19	member of the executive board	Dkfm. Jochen Werz
2002-06-19	2004-07-22	member of the executive board	Dr. Franz Raninger
1999-02-25	2009-04-17	member of the executive board	Mag.Dr. Peter Untersperger
2002-06-19	2010-05-26	member of the executive board	Dipl-Ing.Dr. Christian Reisinger
2011-03-08	2011-08-12	member of the executive board	Johann Ruess
2011-03-08	2011-08-12	member of the executive board	Ingo Patric Thate
2010-05-26	2014-01-09	member of the executive board	Mag. Thomas Winkler
2009-04-17	2015-05-12	member of the executive board	Dipl-Ing. Friedrich Weninger
	1997-06-12	chairman of the supervisory board	Dkfm. Gerhard Randa
1997-06-12	2001-09-12	chairman of the supervisory board	Dkfm. Herbert Walter Liaunig
2001-09-12	2002-06-19	chairman of the supervisory board	Mag. Ewald Nageler
2002-06-19	2008-02-20	chairman of the supervisory board	Karl Schmutzer
2008-08-07	2011-05-25	chairman of the supervisory board	Dkfm.Dr. Hermann Bell
2011-05-25	2015-08-22	chairman of the supervisory board	MMag.Dr. Michael Junghans
1994-05-12	1997-06-12	deputy chairman of the supervisory board	Mag. Max Kothbauer
1997-06-12	1998-06-19	deputy chairman of the supervisory board	Herbert Lugmayr
1998-06-19	2001-09-12	deputy chairman of the supervisory board	Mag. Ewald Nageler
2001-09-12	2002-06-19	deputy chairman of the supervisory board	Karl Schmutzer
2002-06-19	2002-08-17	deputy chairman of the supervisory board	Mag. Wolfgang Peter
2002-08-17	2010-09-22	deputy chairman of the supervisory board	Dr. Walter Lederer
2010-09-22	2011-05-25	deputy chairman of the supervisory board	MMag.Dr. Michael Junghans
	2015-08-22	deputy chairman of the supervisory board	Dr. Hanno Bästlein
	1997-02-19	joint signing clerk	Dr. Christoph Boxan
	1998-01-23	joint signing clerk	Dr. Friedrich Gotschy
1986-06-18	1998-01-23	joint signing clerk	Dkfm. Rudolf Hauptmann
	1998-01-23	joint signing clerk	Franz Kogler
	1998-01-23	joint signing clerk	Dipl-Ing.Dr. Dominik Mach
	1998-01-23	joint signing clerk	Dipl-Ing.Dr. Ingo Marini
	1998-01-23	joint signing clerk	Dipl-Ing.Dr. Thomas Markow
	1999-08-05	joint signing clerk	Dr. Heinrich Ribnitz
	2000-02-24	joint signing clerk	Dipl-Ing. Heinz tho Seeth
	2000-02-24	joint signing clerk	Mag.Dr. Hubert Scholl
	2001-06-06	joint signing clerk	Dr. Gerhard Danninger
2001-10-06	2002-11-23	joint signing clerk	Mag. Dietmar Preslmayr
	2003-04-23	joint signing clerk	Ing. Helmuth Haab
	1998-01-23	joint signing clerk	Dipl-Ing.Dr. Johannes Serafin
	1999-02-25	joint signing clerk	Dr. Franz Raninger
	2003-04-23	joint signing clerk	Dipl-Ing.Dr. Wolfgang Künstner
2000-06-08	2004-09-11	joint signing clerk	Dipl-Ing. Helmut Prokop
	2005-05-13	joint signing clerk	Otto Weitzl
	1999-02-25	joint signing clerk	Dipl-Ing.Dr. Christian Reisinger
1998-01-23	2005-08-30	joint signing clerk	Dipl-Ing. Werner Gschaider
	1997-06-12	member of the supervisory board	Dkfm. Roman Fojtl
	1997-06-12	member of the supervisory board	Herbert Rast
	1998-05-09	member of the supervisory board	Dr. Peter Weber
	1998-06-19	member of the supervisory board	Walter Baumgartinger
	1998-06-19	member of the supervisory board	Helmut Maderthaner
1997-06-12	1998-06-19	member of the supervisory board	Mag. Ewald Nageler
	2000-06-20	member of the supervisory board	Richard Lehner
1994-05-12	2000-06-20	member of the supervisory board	Dr. Gerhard Scharitzer
	2001-09-12	member of the supervisory board	Franz Huber
1997-06-12	2002-06-19	member of the supervisory board	Mag. Wolfgang Peter
	2002-08-17	member of the supervisory board	Dipl-Ing. Othmar Pühringer
2002-08-17	2006-08-19	member of the supervisory board	Mag. Franz Zwickl
	2008-08-07	member of the supervisory board	Dkfm.Dr. Hermann Bell
2000-06-20	2009-04-17	member of the supervisory board	Helmut Maderthaner
2000-06-20	2009-07-14	member of the supervisory board	Dr. Horst Bednar
2008-08-07	2010-07-28	member of the supervisory board	Dr. Winfried Braumann
2010-07-28	2010-09-22	member of the supervisory board	MMag.Dr. Michael Junghans
2004-07-15	2011-05-25	member of the supervisory board	Dr. Veit Sorger
2010-09-22	2012-05-10	member of the supervisory board	Dr. Walter Lederer
2007-09-12	2014-08-07	member of the supervisory board	MBA. Martin Payer
2009-04-17	2014-08-07	member of the supervisory board	Ing. Gerhard Ratzesberger

Former shareholders

from	to	position	name
	2001-02-14	shareholder	Creditanstalt Auslandsbank AG
	2001-02-14	shareholder	UniCredit Bank Austria AG

Former shareholdings

from	to	company name
1994-03-02	2008-12-04	Energie- und Medienzentrale Heiligenkreuz GmbH
2011-01-21	2011-05-31	Beta LAG Holding GmbH
2004-06-05	2013-09-26	ECRA Emission Certificate Registry Austria GmbH in Liqu.
1993-01-22	1998-07-22	Lustro-Lenzing GmbH & Co KG
1994-12-17	2003-09-18	Lenzing Lyocell GmbH & Co KG
1999-09-04	2004-10-01	Lenzing Technik GmbH & Co KG
2000-03-11	2004-10-01	Lenzing Plastics GmbH & Co KG
2003-09-18	2005-10-06	Energie- und Medienzentrale Heiligenkreuz GmbH & Co KG
	1997-09-02	LUSTRO-LENZING GmbH
	1997-11-28	Oesterreichische Papierverkaufsgesellschaft m.b.H.
1995-06-30	1997-12-05	SML Maschinengesellschaft mbH
1995-09-16	2000-01-20	Papier & Recycling Logistik GmbH
2003-03-05	2003-09-18	Energie- und Medienzentrale Heiligenkreuz GmbH
2000-02-22	2005-06-07	Lenzing Plastics GmbH
1999-08-05	2005-06-07	Lenzing Technik GmbH
1996-01-11	2005-06-10	Asia Fiber Engineering GmbH
1995-12-22	2005-06-15	Cellulose Consulting GmbH

Mergers

On	position	name
2005-10-07	merged with	Energie- und Medienzentrale Heiligenkreuz GmbH & Co KG

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.40
UK Pound	1	Rs.101.19
Euro	1	Rs.73.89

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	VNT

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.