(01:41 PM) Wiesbaden, October 24, 2024. With the publication of the half-yearly figures for 2024, SGL Carbon already announced that the company expects to achieve its adjusted EBITDA guidance for fiscal year 2024 at the lower end of the range of 160 to 170 million. Based on the preliminary figures for the first nine months of the fiscal year 2024, SGL Carbon confirms this statement.
According to preliminary figures, Group sales of SGL Carbon for the first nine months of fiscal year 2024 decreased by 4.8% year on year to 781.9 million (9M 2023: 821.7 million). Preliminary adjusted EBITDA, on the other hand, remained at a comparable level to the prior-year period, at 127.6 million (9M 2023: 130.0 million). Despite the slight sales decline, the adjusted EBITDA margin improved to 16.3% after nine months in 2024 (9M 2023: 15.8%). The reasons for the improved adjusted EBITDA margin are, in particular, product mix effects in the Graphite Solutions and Process Technology business units. By contrast, the ongoing weakness in demand for carbon and textile fiber products in the Carbon Fibers business unit and the early termination of a customer contract at Composite Solutions weighed on the Groups sales and earnings development.
The business unit Carbon Fibers manufactures carbon and textile fibers for the wind and automotive industries as well as various industrial applications. As expected by the Company for the fiscal year 2024, demand for carbon fibers from the wind and automotive industries remains weak. In addition, there is increasing competitive and price pressure due to global overcapacity for both carbon fibers and textile fibers. The company does not expect demand to recover in the coming months and the realizable prices for these products will remain at a low level beyond 2025. Furthermore, SGL Carbon expects that the anticipated improvement in sales and earnings for the Carbon Fibers business unit will be delayed and is revising its existing medium-term planning for Carbon Fibers.
Due to the associated expected deviation an event-driven impairment test is currently being carried out. This indicates a non-cash impairment charge of 60-80 million, which will be recorded in the fourth quarter of 2024. The impairment relates exclusively to Carbon Fibers; the operating business of the other business units is not affected.
SGL Carbons equity ratio after the impairment is approx. 40% (September 30, 2024: 43.3% according to preliminary figures).
The review of all strategic options for the Carbon Fibers business unit, which was announced by SGL Carbon on February 23, 2024, and has already begun, remains unaffected by the impairment and is currently continuing.
Further information on the first nine months of the 2024 fiscal year can be found in the quarterly statement, which will be published on November 7, 2024.
1The use of key figures in this release is in line with the definition in the Annual Report 2023.
More from SGL
19/11/2024
(11:18 AM) Wiesbaden, November 19, 2024. The Supervisory Board of SGL Carbon SE decided in its meeting today to appoint Andreas Klein as Chief Executive Officer...
19/11/2024
The Supervisory Board of SGL Carbon SE decided in its meeting today to appoint A...
07/11/2024
Weak demand in some of our customer markets is increasingly hindering SGL Carbons sales growth. After nine months in 2024, SGL Carbon generated sales of 781.9 ...
08/10/2024
In March 2024, SGL Carbon informed the public that CEO, Dr. Torsten Derr, will n...
12/09/2024
SGL Carbon is committed to training its own junior staff. At the Meitingen, Bonn and Willich sites, a total of 34 apprentices have started their careers in rece...
08/08/2024
Q2 2024 confirms SGL Carbons solid business development in an increasingly volatile market environment. After 272.6 million in Q1 and 265.4 million in Q2, SGL...
26/07/2024
Nine talented young professionals completed their vocational training at SGL Carbon in Meitingen from the beginning of June to mid-July, achieving an overall gr...
26/06/2024
In the voting rights notification published today, Dr. Susanne Klatten informed ...
11/06/2024
On June 8, we celebrated the 90th anniversary of Dr. Schnabel GmbH at our Limbur...
27/05/2024
It will soon be that time again: ACHEMA, the worlds most important trade show fo...
15/05/2024
On May 15th, we celebrate the 80th anniversary of the SGL Carbon site in Morganton, North Carolina. The entire SGL Morganton family came together to celebrate t...
08/05/2024
SGL Carbon had a solid start to the first quarter of 2024. Despite the slight decline in sales of 3.9% to 272.6 million (Q1 2023: 283.7 million), adjusted EBI...
26/04/2024
Once again this year, SGL Carbon opened its doors to interested children and young people. On the occasion of the German Girls and Boys Day, which took place on...
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 mark...
21/03/2024
(10:15 AM) Wiesbaden, March 21, 2024. The CEO of SGL Carbon SE, Dr. Torsten Derr...
21/03/2024
The CEO of SGL Carbon SE, Dr. Torsten Derr, informed the Chairman of the Supervisory Board today that he will not extend his contract, which expires on May 31, ...
18/03/2024
Seven young professionals completed their vocational training at SGL Carbon in M...
06/03/2024
The sale of the so-called angel curls once again proved to be a big seller at th...
28/02/2024
As of March 1, 2024, Dr. Denis Hinz will become new Head of SGL Carbons Carbon F...
23/02/2024
(06:11 PM) Wiesbaden, February 23, 2024. The Board of Management of SGL Carbon S...
23/02/2024
SGL Carbon SE is currently evaluating various strategic options for the Business Unit Carbon Fibers (CF). These include a possible partial or complete divestmen...
06/02/2024
In cooperation with the Bavarian leading-edge cluster MAI Carbon of Composites U...
31/01/2024
The supply capability of SGL Carbon, a leading international supplier of carbon-...
18/01/2024
The Munich-based company E-Works Mobility, which specializes in the development ...
04/01/2024
SGL Carbon relies on climate-friendly manufacturing processes in the production of its own carbon fibers. By using renewable energy, the carbon footprint of SGL...
22/11/2023
This years prestigious G nter Schwank Prize goes to our former apprentice Janine Kretzschmar. She completed her training at the Meitingen site as a process mech...
20/11/2023
SGL Carbon took second place in the Products and Applications category at the AV...
02/11/2023
Due to the better-than-expected sales and earnings development of the business u...
25/10/2023
The expansion of production capacities is a significant milestone for the Brembo...
12/09/2023
SGL Carbon and Brembo agreed to expand production capacities for the joint ventu...
07/09/2023
SGL Carbon continues to focus on training its own junior staff and welcomes 32 n...
05/09/2023
As the health of employees is a top priority at SGL Carbon, the second global Safety Day was held at all sites at the end of August. To raise awareness of safet...
10/08/2023
With an overall grade point average of 2.0, ten apprentices completed their vocational training at SGL Carbon in Meitingen this summer. The young skilled worker...
03/08/2023
Despite the increasingly difficult economic environment, SGL Carbon was able to ...
27/07/2023
On July 21, 2023, a 500 m logistics hall was inaugurated at SGL Carbons Austrian site in Ort im Innkreis, including an adjoining hall of approximately 150 m f...
24/07/2023
(04:40 PM) Wiesbaden, July 24, 2023. According to preliminary figures for H1 202...
10/07/2023
Just two years ago, SGL Carbons net debt amounted to 287 million with a leverage of 3.1. Today, SGL Carbon reports that it has successfully completed its refin...
07/07/2023
Effective October 1, 2023, Andreas Klein will become Head of SGLs largest Business Unit Graphite Solutions, succeeding Burkhard Straube.
Mr. Klein holds a degr...
06/07/2023
To mark the 75th anniversary of apprenticeships at the Meitingen site, the first Apprenticeship Day was held on July 4. With around 170 visitors to the SGL Carb...
21/06/2023
(07:38 AM) Wiesbaden, June 21 2023. The Management Board of SGL Carbon SE (the I...
21/06/2023
Wiesbaden, June 21 2023. SGL Carbon SE (the Issuer or SGL Carbon) today successfully completed the placement of unsubordinated, unsecured convertible bonds du...
09/05/2023
The shareholders of SGL Carbon SE approved all agenda items at the Annual General Meeting on May 9, 2023. The Annual General Meeting, which was held virtually, ...
05/05/2023
SGL Carbon generated Group sales of 283.7 million in Q1 2023 (Q1 2022: 270.9 million). This corresponds to an increase of 12.8 million or 4.7% compared to th...
04/05/2023
On the occasion of Girls and BoysDay in Germany on April 27, 2023, we opened our doors in Bonn and Meitingen to interested children and young people who wanted ...
03/05/2023
Effective May 01, 2023, Alexander Miehling has succeeded R diger Krieger as site manager of SGL Carbon in Meitingen, as well as taking over the management of SG...
28/04/2023
As part of the realignment of SGL Carbon, clear profitability criteria were defined for all four Business Units and strategic options were developed. The path o...
19/04/2023
Our apprentices at the Bonn and Meitingen sites achieved excellent exam results. A total of 17 apprentices from this years graduating class completed their voca...
29/03/2023
SGL Carbon will present a new 50k carbon fiber at JEC World 2023. The new SIGRAF...
(01:41 PM) Wiesbaden, October 24, 2024. With the publication of the half-yearly figures for 2024, SGL Carbon already announced that the company expects to achieve its adjusted EBITDA guidance for fiscal year 2024 at the lower end of the range of 160 to 170 million. Based on the preliminary figures for the first nine months of the fiscal year 2024, SGL Carbon confirms this statement.
