Brief: SGL Carbon Sees 2020 Sales To Decline Year-Over-Year By 15% To 20%

SGL Carbon SE

28/07/2020 14:23

July 28 (Reuters) - SGL Carbon SE  SGCG.DE :
    * SGL CARBON SE PRESENTS AN OUTLOOK FOR 2020 AGAIN BASED ON
THE
PRELIMINARY RESULTS FOR THE SECOND QUARTER 2020
    * DECIDED TO SUSPEND GUIDANCE FOR FISCAL YEAR 2020 AS
PUBLISHED IN
ANNUAL REPORT 2019.
    * BASED ON PRELIMINARY GROUP RESULTS FOR Q2 2020 BOARD OF
MANAGEMENT HAS TODAY ASSESSED OUTLOOK FOR SECOND HALF OF YEAR.
    * PRELIMINARY RESULTS FOR Q2 2020 DO NOT LOOK AS WEAK AS
ANTICIPATED AT PRESENTATION OF QUARTERLY STATEMENT AS OF MARCH
31, 2020
    * Q2 GROUP SALES HAS LIKELY DECLINED BY APPROX. 25% COMPARED
TO
PRIOR YEAR LEVEL OF APPROX. EUR 273 MILLION
    * RECURRING EBIT IS LIKELY TO HAVE REMAINED AT BREAK-EVEN
LEVEL IN
Q2 2020.
    * EXPECTS GROUP SALES TO DECLINE YEAR-OVER-YEAR BY 15% TO
20%
(GROUP SALES 2019: EUR 1,087 MILLION) AND A SLIGHTLY POSITIVE
OPERATING RECURRING EBIT FOR FULL YEAR 2020
    * NET RESULT FROM CONTINUING OPERATIONS FOR FISCAL YEAR 2020
IS
EXPECTED IN A SIMILAR MAGNITUDE AS BEFORE COVID-19 PANDEMIC
OUTBREAK (NEGATIVE LOW DOUBLE-DIGIT MILLION EUR AMOUNT) DESPITE
A LOWER OPERATING GROUP RECURRING EBIT

Source text for Eikon:  ID:nEQ3mn8n3a 
Further company coverage:  SGCG.DE 

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