So, here is my solution:
value_template: >
{% if is_state('sensor.aeg_waschmaschine_wm1_cyclephase', 'unavailable') %}
keine
{% elif is_state('sensor.aeg_waschmaschine_wm1_cyclephase', '') %}
keine
{% else %}
{{ states('sensor.aeg_waschmaschine_wm1_cyclephase') }}
{% endif %}
It works perfectly.