Sony Pixel Power calrec Sony

SGL Carbon achieves annual targets for 2023 and invests more in growth markets

22/03/2024

In fiscal year 2023, SGL Carbon achieved the sales and earnings targets set at the beginning of the year despite the drop in demand from the important wind market and an increasingly challenging economic environment. Group sales decreased slightly by 46.8 million (minus 4.1%) to 1,089.1 million (previous year: 1,135.9 million). At 168.4 million, adjusted EBITDA, a key performance indicator for the Group, was also down slightly (minus 2.5%) compared to the previous year ( 172.8 million) but was clearly within the forecast range for 2023 of 160 to 180 million.

While the positive sales development of the Graphite Solutions ( 53.5 million to 565.7 million), Process Technology ( 21.6 million to 127.9 million) and Composite Solutions ( 0.8 million to 153.9 million) business units had a positive effect, the Carbon Fibers business unit had a negative impact on Group sales with a sales decline of 122.3 million to 224.9 million.

Demand for carbon fibers for the wind industry fell dramatically at the beginning of 2023. Construction activities for offshore wind turbines, in which our carbon fibers are needed, almost came to a standstill. High raw material costs and interest rates as well as low acceptance prices and high regulatory barriers are currently making the construction of new wind parks almost unprofitable, particularly in Europe. This has also hit our business unit Carbon Fibers (CF) hard. Accordingly, CFs sales and earnings declined significantly. Nevertheless, the record results of the three other SGL business units almost completely compensated for this downturn, meaning that we still achieved our targets for 2023, explains CEO Dr. Torsten Derr.

Earnings development of SGL CarbonThe contribution of the individual business units to SGL Carbons adjusted EBITDA reflects the sales development already described. Despite the volume-related drop in adjusted EBITDA of the reporting segment Carbon Fibers from 43.2 million in 2022 to 7.2 million in the reporting period (minus 36.0 million), adjusted Group EBITDA decreased by only 4.4 million (minus 2.5%) to 168.4 million. The drop in the adjusted EBITDA of CF was offset by the positive EBITDA development of the three other business units: Graphite Solutions ( 15.5 million to 134.0 million), Process Technology ( 12.5 million to 22.4 million) and Composite Solutions ( 2.2 million to 22.2 million).

Despite the decline in demand and the associated decrease in earnings at Carbon Fibers, the adjusted EBITDA margin even improved slightly year-on-year from 15.2% to 15.5% in 2023 thanks to the good results of the other business units.

The weak business development of Carbon Fibers led to an impairment loss of 44.7 million on the assets of this business unit in the first half of 2023, which accounted for the majority of the one-off effects and special items of minus 52.9 million in 2023. Taking into account the one-off effects and special items as well as depreciation and amortization of 58.9 million (previous year: 60.8 million), reported EBIT amounted to 56.6 million in 2023 (previous year: 120.9 million).

The financial result worsened by 7.4 million year-on-year to minus 34.2 million (previous year: minus 26.3 million). This is due in particular to higher interest expenses for financial liabilities and pensions amounting to minus 30.7 million (previous year: minus 24.3 million). Due to the business development described above as well as the non-operating one-off effects and special items, in particular the impairment in the CF segment ( 44.7 million), consolidated net income decreased to 41.0 million in 2023 (previous year: 126.9 million). It should be noted that the consolidated net income includes tax income of 19.3 million (previous year: 31.3 million). This development is mainly due to valuation adjustments on deferred tax assets in the amount of 31.0 million based on the good business performance combined with positive earnings prospects in the USA (previous year: 41.8 million).

Net financial debt and equityAs in previous years, net financial debt continued to decrease in the 2023 financial year and amounted to 115.8 million as of December 31, 2023 (previous year: 170.8 million), which corresponds to a reduction of 32.2% compared to the previous year. This is due in particular to the increase in free cash flow to 95.6 million (previous year: 67.8 million). The leverage factor was 0.7 after 1.0 in 2022.

At 87.1 million, investments (capex) in intangible assets and property, plant and equipment in 2023 were around 64.7% higher than in the previous year ( 52.9 million) and significantly higher than depreciation and amortization of 58.9 million. Almost two thirds of these investments were allocated to Graphite Solutions and in particular in the expansion of production capacities for specialty graphite products for high-temperature processes, which are required in the semiconductor, LED and solar industries. Equity attributable to shareholders of the parent company increased slightly by 6.3% to 605.3 million in the 2023 financial year (previous year: 569.3 million). The equity ratio increased accordingly to 41.1% (previous year: 38.5%). At 11.3%, the return on capital employed (ROCE calculated on adjusted EBIT) remained constant at the previous years level.

Development of the business unitsIn fiscal year 2023, the largest business unit Graphite Solutions (GS) accounted for 51.9% or 565.7 million of SGL Carbons consolidated sales (previous year: 45.1% I 512.2 million). The 10.4% increase in sales is based on the dynamic development of the important Semiconductor & LED market segment, particularly in the area of silicon carbide-based high-performance semiconductors. Accordingly, sales with customers in the Semiconductor/LED market segment increased by 40.1% compared to the previous year and now ac
LINK: https://www.sglcarbon.com/en/newsroom/news/press-report/sgl-carbon-ach...
See more stories from sgl

Most recent headlines

05/02/2025

Nielsen Out Of Home Measurement Now Covers 100% Of The United States

New Coverage and Reach Metrics to Begin For February 2025 and will be Included for Super Bowl LIX Ratings New York February 3, 2025 Nielsen, a global leade...

05/02/2025

Hubbard Broadcasting Taps Nielsen for Local TV Measurement

Multi-year deal includes Local TV ratings for all markets and includes Nielsen's Ad Intel Nielsen's Local TV measurement powered by Big Data + Panel N...

05/02/2025

Fox Plans To Launch Direct-to-Consumer Service This Year

Fox Corp. is planning to launch a direct-to-consumer streaming service sometime later this year, Executive Chair and CEO Lachlan Murdoch told analysts on an ear...

05/02/2025

HPA Tech Retreat to Go Behind the Scenes With YouTube Phenom MrBeast

LOS ANGELES Feb. 3, 2025 As it heads to its estimable 30th anniversary, the HPA Tech Retreat continues to add one-of-a-kind programming to its schedule. The...

05/02/2025

World Surf League Turns to LTN for Live-Event Versioning

COLUMBIA, Md. The World Surf League (WSL) is expanding its relationship with LTN to include content versioning for worldwide distribution this year, bringing a ...

05/02/2025

Perifery Acquires Pixitmedia to Expand AI-Powered Media Distribution

FORT LAUDERDALE, Fla. Perifery, a division of DataCore, has agreed to acquire the assets of Pixitmedia from its owner Kalray, targeting the Media and Entertainm...

05/02/2025

Inside IBC's innovation boom: what's powering the future of media?

Speaking exclusively to TVBEurope, four of its experts weigh in on the IBCs role in fostering innovation, the technological shifts on the horizon, and why sport...

05/02/2025

Meet the director of product marketing

Vincent Noyer, director of product marketing at LYNX Technik, tells TVBEurope how remaining engaged and proactive leads to opportunities for growth By Matthew ...

05/02/2025

ESPN Viewing Hits Decade-Long Highs in January

ESPN is reporting that its NFL playoffs and College Football Playoff games in January boosted audiences to levels not seen at the network in years....

05/02/2025

Roku Remains Top U.S. Streaming Device

A new study from Pixalate indicates that Roku remains by far the dominant player among streaming devices in North America where its market share was more than d...

05/02/2025

Panasonic To Ship New 4K 60p 10-Bit Camcorders In March

NEWARK, N.J. Panasonic next month will release new 4K 60p 10-bit professional camcorder models, including the AG-CX20, HC-X1200 and HC-X2100 for video productio...

05/02/2025

Tegna Shuts Down National Fact-Checking Operation

WASHINGTON Tegna has shut down Verify, the station group's national fact-checking operation, laying off around 18 journalists, producers, researchers and ot...

05/02/2025

FCC Chair Brendan Carr Fills More Key Staff Positions

WASHINGTON, D.C. Federal Communications Commission chair Brendan Carr continues to build out his leadership team with the announcement of more staff appointment...

05/02/2025

Sanctuary Pictures Unveils Punk-Horror Feature Penny Lane Is Dead

04 02 2025 - Media release Sanctuary Pictures Unveils Punk-Horror Feature Penny Lane Is Dead Writer/Director of Penny Lane Is Dead, Mia'Kate Russell Sanc...

05/02/2025

Faculty Notes: Fall 2024

Faculty Notes: Fall 2024 Recent accomplishments, releases, and events by Berklee faculty. February 4, 2025 Professor Tomo Fujita played the John Coltrane In...

05/02/2025

Thales announces two new appointments to its Board of Directors

Facebook Twitter LinkedIn Thales' Board of Directors (Euronext Paris: HO) which met on February 4, 2025, coopted as a Board member Val rie Guillemet, ...

05/02/2025

RT publishes Register of External Activities for Q3 2024 (statistical summary)

RT is today publishing a statistical summary from the Register of External Activities for the third quarter of 2024. The RT Register of External Activities (...

05/02/2025

Eurovision Royalty to join the Late Late Eurosong Special this Friday Night

Here is your host, Patrick Kielty! This Friday night Eurovision royalty Linda Martin, Niamh Kavanagh and Eimear Quinn will come together for the first time to ...

05/02/2025

Other Voices makes its return to RT this Spring with an incredible lineup

Laura Marling, Lisa O'Neill, James Dean Bradfield, Jacob Alon, Bashy, Morgana and more to feature in Other Voices Series 23 this Spring RT 2 & RT Player |...

05/02/2025

AI Pays Off: Survey Reveals Financial Industry's Latest Technological Trends

The financial services industry is reaching an important milestone with AI, as organizations move beyond testing and experimentation to successful AI implementa...

05/02/2025

How GeForce RTX 50 Series GPUs Are Built to Supercharge Generative AI on PCs

NVIDIA's GeForce RTX 5090 and 5080 GPUs - which are based on the groundbreaking NVIDIA Blackwell architecture -offer up to 8x faster frame rates with NVIDIA...

04/02/2025

Spotify Reports Fourth Quarter 2024 Earnings

Today, we announced our fourth quarter 2024 earnings, closing Q4 stronger than ever by outperforming across key metrics and celebrating our first full year of p...

04/02/2025

Spotify rapporterar intkter fr fjrde kvartalet 2024

Idag rapporterar vi int kter f r fj rde kvartalet 2024. Vi avslutade Q4 starkare n n gonsin genom att vertr ffa f rv ntningarna p v ra nyckeltal och kan d rm...

04/02/2025

SGL Carbon opts for green electricity at its German sites

As a technology-based company and one of the worlds leading companies in the development and production of carbon-based solutions, SGL Carbon opts for innovativ...

04/02/2025

ST Engineering iDirect Names Sridhar Kuppanna as Chief Technology Officer

Ground segment technology innovator appoints new CTO to execute bold technological vision Herndon, Va., February 4, 2025 ST Engineering iDirect, global leade...

04/02/2025

L3Harris Signs Multi-Year Pilot Training Agreement With Thai Airways

L3Harris has signed a two-year agreement with Thai Airways International to provide training service on its A320 Full Flight Simulator (FFS). This significant a...

04/02/2025

US Air Force Completes First Flight of L3Harris Viper Shield Electronic Warfare System

L3Harris' all-digital electronic warfare suite, Viper Shield , completed its...

04/02/2025

Radio Botswana chooses Calrec's IP-native Type R mixing system

The shift from analogue to IP was driven by a desire for greater flexibility in our operations. IP simplifies connectivity, reduces the physical footprint of th...

04/02/2025

Simplifying Gray Media News Operations with Calrec's Type R

Streamline, standardise and save: how Gray Media has simplified news operations At TVNewsCheck's News Tech Forum 2024, Gray Media's Peter Gogas and Calr...

04/02/2025

Bending Spoons closes $233 million acquisition of Brightcove

Boston, MA-February 4, 2025 | Bending Spoons, the Italy-based technology company, completed its previously announced acquisition of US-based streaming technolog...

04/02/2025

Grup Mediapro to Collaborate with Google Cloud on Gen AI

BARCELONA Grup Mediapro and Google Cloud have expanded their collaboration to create an innovation lab focused on generative AI to develop solutions for the med...

04/02/2025

EditShare Receives SOCE 2 Type II Certification

WATERTOWN, Mass. EditShare this week said it has received SOC 2 Type II certification, an independently audited evaluation of an organization's information ...

04/02/2025

Executive Creative Director Halle Petro Named Partner of Sonic Union

Executive Creative Director Halle Petro Named Partner of Sonic Union Brie Clayton February 4, 2025 0 Comments Sonic Union is excited to announce Execu...

04/02/2025

Blackmagic Design Announces Blackmagic Camera for Android 2.0 Update

Blackmagic Design Announces Blackmagic Camera for Android 2.0 Update Brie Clayton February 4, 2025 0 Comments New update adds support for Xiaomi Pad 6...

04/02/2025

CETA Software Launches Artist Access: The Time-Tracking Tool for Creative Teams

CETA Software Launches Artist Access: The Time-Tracking Tool for Creative Teams Brie Clayton February 4, 2025 0 Comments CETA Software, creators of p...

04/02/2025

OWC Announces General Availability Launch of OWC Dock Ejector 2.0

OWC Announces General Availability Launch of OWC Dock Ejector 2.0 Brie Clayton February 4, 2025 0 Comments The Ultimate Tool for Efficiently and Safel...

04/02/2025

Colourist Claudio Del Bravo on grading Queer

Explaining the process to TVBEurope, Del Bravo said the films look was inspired by the Technicolor three-strip' process, evoking the rich colours of early ...

04/02/2025

Paramount, Nielsen Sign Multiyear Measurement and Analytics Deal

NEW YORK Paramount Global and Nielsen have inked a new, multiyear deal that will provide measurement for all of the company's platforms, including national ...

04/02/2025

2d Animated Short Concerning a Project for Schools

2d Animated Short Concerning a Project for Schools Brie Clayton February 3, 2025 0 Comments 2d animated short concerning a project for schools Febru...

04/02/2025

Step by step guide to using 3D Models in After Effects

Step by step guide to using 3D Models in After Effects Graham Quince February 3, 2025 0 Comments Since 2024, Adobe After Effects has had native suppor...

04/02/2025

Powerful Premiere Automation with new Excalibur Update

Powerful Premiere Automation with new Excalibur Update Colin Smith February 3, 2025 0 Comments This tutorial takes you through the new update for auto...

04/02/2025

Cinematography of A Complete Unknown: Shooting 12,800 iso Sony Venice 2 to create a 1960's era film

Cinematography of A Complete Unknown: Shooting 12,800 iso Sony Venice 2 to creat...

04/02/2025

DIY to DA: Ela Minus Breaks Through

DIY to D A: Ela Minus Breaks Through The electronic artist and producer tells Rolling Stone about her new album, D A, and how shes forged a career outside the...

04/02/2025

NVIDIA Blackwell Now Generally Available in the Cloud

AI reasoning models and agents are set to transform industries, but delivering their full potential at scale requires massive compute and optimized software. Th...

04/02/2025

The Future of Football? Technology and Entertainment Merge in the Kings World Cup Nations

The future of football? Technology and entertainment merge in the Kings World Cu...

04/02/2025

Virtual Production and AR Graphics: Demystifying the Tools, Technologies, and Trends

Virtual Production and AR Graphics: Demystifying the Tools, Technologies, and Tr...

04/02/2025

SVG All-Stars: Russell Fink, Senior Director, Programming and Content Analytics, SNY

SVG All-Stars: Russell Fink, Senior Director, Programming and Content Analytics,...

04/02/2025

SVG New Sponsor Spotlight: farmerswife's Jodi Clifford on Organizing Your Productions Like a Professional

SVG New Sponsor Spotlight: farmerswife's Jodi Clifford on Organizing Your Pr...

04/02/2025

EA Acquires TRACAB Technologies as It Looks to Move Beyond Games

EA Acquires TRACAB Technologies as It Looks to Move Beyond Games EA believes TRACABs sports tracking/analysis technology will help to make the EA SPORTS App the...