Brief: SGL Carbon Cuts 2019 Guidance

SGL Carbon SE

25/10/2019 11:59

Oct 25 (Reuters) - SGL CARBON SE  SGCG.DE :
    * IN THE CONTEXT OF PREPARATIONS FOR THE NEW FIVE-YEAR PLAN,
A
GUIDANCE ADJUSTMENT FOR CFM AND THE GROUP AS WELL AS AN
IMPAIRMENT CHARGE FOR CFM BECOME NECESSARY AND A FIRST OUTLOOK
FOR 2020 BECOMES APPARENT
    * CONTINUED WEAKNESS IS BECOMING APPARENT FOR FINAL QUARTER
2019
IN REPORTING SEGMENT COMPOSITES - FIBERS & MATERIALS
    * NOW EXPECT FOR 2019 A RECURRING EBIT IN REPORTING SEGMENT
CFM IN
A NEGATIVE MID TO HIGH SINGLE DIGIT MILLION EUR AMOUNT (PREVIOUS
GUIDANCE: POSITIVE MID-SINGLE DIGIT MILLION EUR AMOUNT)
    * GROUP RECURRING EBIT FOR FULL YEAR 2019 IN MAGNITUDE OF
EUR45 TO
50 MILLION (PREVIOUS GUIDANCE: APPROX. EUR55 MILLION)
    * A NON-CASH IMPAIRMENT CHARGE OF EUR70 TO 80 MILLION IS
BECOMING
APPARENT IN CFM
    * IMPAIRMENT CHARGE WILL BE RECORDED IN Q3 2019
    * NET RESULTS IN 2019 ARE EXPECTED TO REACH APPROXIMATELY
MINUS
EUR100 MILLION (PREVIOUS GUIDANCE: CONSOLIDATED NET RESULTS TO
REACH A HIGH SINGLE DIGIT MILLION LOSS)
    * WE ALSO ANTICIPATE A WRITE-DOWN IN DEFERRED TAX ASSETS IN
AMOUNT
OF UP TO EUR10 MILLION, WHICH WILL ALSO BE RECORDED IN Q3 2019
    * 2020 GROUP SALES IS EXPECTED SLIGHTLY BELOW 2019 LEVEL
(WHICH IS
ANTICIPATED BETWEEN EUR1.05 AND EUR1.1 BILLION)
    * OUTLOOK 2020: GROUP RECURRING EBIT IS LIKELY TO BE 10 TO
15
PERCENT BELOW EXPECTED 2019 LEVEL

Source text for Eikon:  ID:nEQ8PFH57a 
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