Brief: SGL Carbon Achieves Sales And Earnings Forecast For 2023 And Invests More In Growth Markets
22/03/2024 06:43
March 22 (Reuters) - SGL CARBON SE SGCG.DE :
* SGL CARBON ACHIEVES ANNUAL TARGETS FOR 2023 AND INVESTS
MORE IN
GROWTH MARKETS
* GROUP SALES OF EUR 1,089.1 MILLION (-4.1%) AND ADJUSTED
EBITDA
OF EUR 168.4 MILLION (-2.5%) IN A DIFFICULT MARKET ENVIRONMENT
* SALES AND EARNINGS FORECAST FOR 2023 ACHIEVED DESPITE DROP
IN
DEMAND FROM KEY MARKET
* 2024 FURTHER CAPACITY EXPANSION IN GRAPHITE COMPONENTS FOR
SILICON CARBIDE-BASED SEMICONDUCTORS
* ADJUSTED EBITDA MARGIN EVEN IMPROVED SLIGHTLY YEAR-ON-YEAR
FROM
15.2% TO 15.5% IN 2023
* FINANCIAL RESULT WORSENED BY EUR 7.4 MILLION YEAR-ON-YEAR
TO
MINUS EUR 34.2 MILLION
* ON FEBRUARY 23, 2024, REVIEWING ALL STRATEGIC OPTIONS FOR
CARBON
FIBERS THESE ALSO INCLUDE A POSSIBLE PARTIAL OR COMPLETE SALE OF
BUSINESS UNIT
* NET FINANCIAL DEBT CONTINUED TO DECREASE IN 2023 FINANCIAL
YEAR
AND AMOUNTED TO EUR 115.8 MILLION AS OF DECEMBER 31, 2023
(PREVIOUS YEAR: EUR 170.8 MILLION)
* EXPECTS 2024 GROUP SALES AT PREVIOUS YEAR'S LEVEL (2023:
EUR
1,089.1 MILLION)
* ANTICIPATES AN ADJUSTED EBITDA OF BETWEEN EUR 160 MILLION
AND
EUR 170 MILLION FOR FISCAL YEAR 2024
* NET DEBT DECREASE DUE IN PARTICULAR TO INCREASE IN FREE
CASH
FLOW TO EUR 95.6 MILLION (PREVIOUS YEAR: EUR 67.8 MILLION)
* FY: LARGEST BUSINESS UNIT GRAPHITE SOLUTIONS (GS)
ACCOUNTED FOR
51.9% OR EUR 565.7 MILLION OF SGL CARBON'S CONSOLIDATED SALES
(PREVIOUS YEAR: 45.1% I EUR 512.2 MILLION)
* OUTLOOK 2024: SHOULD REVIEW PROCESS OF CF BUSINESS RESULT
IN
SALE, FORECAST OF ADJUSTED EBITDA IN 2024 WOULD BE BETWEEN EUR
180 - 190 MILLION
* OUTLOOK 2024: MAJORITY OF TOTAL PLANNED INVESTMENTS OF UP
TO EUR
150 MILLION (PREVIOUS YEAR: EUR 87.1 MILLION) WILL FLOW INTO
SPECIALITY GRAPHITE COMPONENTS FOR SEMICONDUCTOR INDUSTRY
* CARBON FIBERS BUSINESS WEIGHS ON GROUP'S PROFITABILITY
Source text for Eikon: ID:nEQ6dqhKGa
Further company coverage: SGCG.DE
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